Canada’s new renewable energy investment tax credit will make the country a global leader in favorable financial conditions for green energy projects.
Canada is already a global leader in renewable energy power generation, with 83% of its grid power coming from renewable and nuclear sources. Canada’s new renewable energy investment tax credit , unveiled in the 2023 federal budget, will make the country a global leader in favorable financial conditions for green energy projects.
Thanks to this reimbursement, a 250-megawatt project built in Canada will now boast a full lifecycle net present value of $202 million after-tax, up from $131 million before the ITC was announced.* This marks a significant rise in value, which is likely to encourage further developments and revitalize some projects that have been sidelined due to unfavorable economics.
Canada is already a global leader in renewable energy power generation, with 83% of its grid power coming from renewable and nuclear sources. We expect that share to hit 97% by 2050, with most of the additional capacity supported by solar project development., Alberta has emerged as a surprising leader in solar and wind developments. The province’s determination to reach its net zero goals has spurred solar, wind and storage capacity growth through corporate PPAs.
Danmark Seneste Nyt, Danmark Overskrifter
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