A Second Golden Spike for an Electrified Canada: Using Carney’s Budget to Link the Provinces
Key Takeaway
Canada's new 15% refundable tax credit for clean generation, storage, and inter-provincial transmission provides a substantial financial incentive for developers and IPPs to build critical infrastructure, promising a more integrated and potentially lower-cost power market for large consumers.
AI Summary
- •Canada introduces a 15% refundable Clean Electricity Investment Tax Credit (CEITC) applicable to new clean electricity generation, storage, and inter-provincial/territorial transmission projects.
- •This policy aims to establish a national electricity backbone, significantly reducing capital costs for eligible infrastructure and enhancing project economics for developers and IPPs.
- •The CEITC incentivizes critical transmission links, potentially leading to more efficient power markets, improved grid reliability, and optimized resource utilization across Canadian provinces for large power consumers.
Topics
Article Content
Mark Carney’s first budget as Finance Minister quietly provided Canada with the ingredients for something the country has lacked for a century: a truly national electricity backbone. The Clean Electricity Investment Tax Credit, a 15% refundable credit on new generation, storage, and the transmission of electricity between provinces and territories, ... [continued] The post A Second Golden Spike for an Electrified Canada: Using Carney’s Budget to Link the Provinces appeared first on CleanTechnica .