- Description de la politique:
- The 2022 Fall Economic Statement proposed a refundable tax credit equal to 30 per cent of the capital cost of investments in:
- Electricity Generation Systems, including solar photovoltaic, small modular nuclear reactors, concentrated solar, wind, and water (small hydro, run-of-river, wave, and tidal);
- Stationary Electricity Storage Systems that do not use fossil fuels in their operation, including but not limited to: batteries, flywheels, supercapacitors, magnetic energy storage, compressed air storage, pumped hydro storage, gravity energy storage, and thermal energy storage;
- Low-Carbon Heat Equipment, including active solar heating, air-source heat pumps, and ground-source heat pumps; and,
- Industrial zero-emission vehicles and related charging or refueling equipment, such as hydrogen or electric heavy duty equipment used in mining or construction.
As proposed, the investment tax credit is expected to cost $6.7 billion over five years, starting in 2023-24.
The 2023 Fall Economic Statement expanded eligibility to technologies that produce electricity or electricity and heat from waste biomass. This expansion also applies to the clean electricity investment tax credit. Together, the expanded tax credits will cost an additional $853 million from 2023-24 to 2028-29, and $1.2 billion from 2029-30 to 2034-35.
- Instrument:
- Producer subsidy
- Périmètre:
- Technology
- Région:
- Federal
- Secteur:
- Multi-sector
- État:
- Implemented
- Type d’instrument:
- Abatement support
- Moyen d'abattement:
- Efficiency; End-use fuel switching; Energy source decarbonization; Negative emissions