Nov 10, 2022

Canada introduces 30% refundable investment tax credits for energy storage

Canada’s government will introduce tax incentives for clean energy technologies, including solar PV, battery storage, and hydrogen.

Canada introduces 30% refundable investment tax credits for energy storage

By Andy Colthorpe/ POMCube | Nov 10, 2022 | Pageviews:65
When the electricity consumption is greater than the energy generated, the missing part of the energy will come from the battery storage, so the energy stored in the battery will drop.

Canada’s government will introduce tax incentives for clean energy technologies, including solar PV, battery storage, and hydrogen.

The decision, which was made public by Deputy Prime Minister Chrystia Freeland as part of Canada’s Fall Economic Statement 2022, has already been praised by trade associations for manufacturing, energy storage, and renewable energy.

The government proposes a refundable tax credit of 30% of the cost of capital investment in electricity generation systems, stationary electricity storage systems, low-carbon heat equipment and industrial zero-emissions vehicles and related charging or refueling equipment. The minimum tax credit rate will be reduced by 10% for projects that don’t comply with local labor standards.

This initiative by the Canadian government has a very significant and positive influence on the energy-related industry. Whether you are a homeowner or an installer, contact POMCube to learn more about what we can do with clean energy storage. In the meantime, we’ll make a storage solution for you based on your needs as well.

 

Read the full article in energy-storage

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