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ARTICLE · 11 APRIL 2023

Feds Aim To Boost Investment In Clean Technology And Electricity

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On March 28, 2023, the Finance Minister delivered the 2023 federal budget, which includes measures that aim to spur investment in clean electricity as Canada strives to meet its net zero targets.

CanadaEnergy and Natural Resources
Jodi Wildeman
Jodi Wildeman
Bennet Misskey
Bennet Misskey
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On March 28, 2023, the Finance Minister delivered the 2023 federal budget, which includes measures that aim to spur investment in clean electricity as Canada strives to meet its net zero targets.

The 2023 federal budget introduced a Clean Electricity Investment Tax Credit, which will cover up to 15% of the capital costs for eligible investments in clean electricity. The credit is designed to complement the Clean Technology Investment Tax Credit announced in last year's fall economic statement.

The government also announced a Clean Technology Manufacturing Investment Tax covering up to 30% of investments in machinery and equipment related to clean technology, as well as enhancements to the Investment Tax Credit for Carbon Capture, Utilization, and Storage (CCUS) introduced in last year's federal budget.

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