Alberta Announces The Alberta Carbon Capture Incentive Program

With the goal of decarbonisation, carbon capture, utilization, and storage (CCUS) is an important area for growth and development. On November 28, 2023, the Government of Alberta (Province) announced key incentives for the development and integration of CCUS infrastructure and technology in Alberta. Specifically, the Province announced the creation of the Alberta Carbon Capture Incentive Program (ACCIP) as part of Alberta's Emissions Reduction and Energy Plan.

The ACCIP is intended to incentivize facilities to incorporate CCUS infrastructure and technology into their operations Between 2024 and 2035, the program will offer between $3.2 to $5.3 billion in financial. The announcement of the ACCIP follows the incentives announced by the federal government in the Fall Economic Statement 2023, which includes the CCUS investment tax credit program (CCUS ITC).