Canada has become the second\u002Dmost favourable place to invest in green energy projects after Ottawa rolled out a tax credit. Find out more.
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The renewable energy investment tax credit raises the value of some projects more than 50 per cent over their lifetime, placing Canada behind only the U.S. in support offered for renewable energy, according to the research firm.By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails or any newsletter. Postmedia Network Inc.
Under the program, 250-megawatt clean-power projects built in Canada will have a life cycle net present value of US$202 million after tax versus US$131 million before the tax credit was announced, Rystad said. Canada’s federal budget contained almost $83 billion over the next decade in investment tax credits directed toward clean manufacturing, electricity generation and carbon capture. The subsidies, along with increased health spending, are poised to swell the country’s deficit but were touted as necessary to achieve the country’s goal of net zero emissions by 2050.
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