New Federal Tax Policy to Stimulate Investment in Renewable Energy & Energy Conservation

This just in this morning from the Canadian Solar Industries Association…

This week’s Federal Fall Economic Statement contains a new measure that will drive significant investment in Canada’s clean technology sector(s).

“Full Expensing for Clean Energy Equipment” enables renewable energy and energy conservation assets (such as solar energy, battery storage and electric vehicle charging infrastructure) to be depreciated in full in the year that they are brought in service. Accelerating depreciation in this way, defers taxable income to later years. As a result, the business case and access to finance is improved for investments in technologies that produce clean energy or that displace fossil fuels.

“Canada is moving from planning to action on our national climate action and clean growth strategy. In the future, business who reduce their greenhouse gas emissions and manage their energy costs will be the most competitive. This new change to federal tax policy will support businesses to invest in technologies such as solar energy and energy storage. The benefits of this measure will span far beyond those individual businesses and throughout our entire economy especially due to the new demand created for important engineering, construction and trades jobs” – John Gorman, President & CEO, Canadian Solar Industries Association (CanSIA).

The entire Fall Economic Statement 2018 can be read here.

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