Canada announces an investment tax credit (ITC) similar to that in the U.S.—up to 30% for clean energy technologies, including solar
Canada announces an investment tax credit (ITC) similar to that in the U.S.—up to 30% for clean energy technologies, including solar
“Canada’s Finance Minister, Chrystia Freeland, has unveiled 30% to 40% tax credits for investments in clean technology and hydrogen projects.
The tax credits cover capital costs for investments made in electricity generation systems like solar, water, and wind; storage, such as batteries; and low-carbon heat equipment and industrial zero-emission vehicles used in mining or construction.
The credit will be open as of the first day of the federal budget for the following year and expire in 2035.
After 2030, the tax benefit will gradually disappear.” – DERICK LILA
