To spur green investment, the 2022 Federal Government budget announced an investment tax credit of 30% for net-zero technologies, with more details to be provided at a future date. Initially, the focus will be on net-zero technology, battery storage solutions and clean hydrogen.
Recently, the government announced its Emissions Reduction Plan, with a goal of net-zero emissions by 2050. To achieve this, the Canadian economy would emit no greenhouse gas emissions, or emissions would be offset through technologies that capture carbon before it’s released into the air. The 2022 budget introduced new measures to make it easier and more affordable for Canadian businesses to adopt clean technologies.
The investment tax credit is one part of Canada’s goal towards realizing its historic Emissions Reduction Plan, aiming to reach its 2030 climate target. In its push to a greener economy, the government will need to quickly transition into all forms of emissions-reducing and non-emitting technologies, including hydrogen, energy storage, renewables and other decarbonization pathways.
For more information, and to find out if you may qualify for these benefits, call Jason Adams, 877-753-2678, or email Jason [email protected]