The clean-tech tax credits will be offered for investors in net-zero technologies, battery storage and clean hydrogen, according to the so-called fall economic statement (FES) presented to the House of Commons by Finance Minister Chrystia Freeland.
The new green transition measures are “a step in the right direction helping Canada compete with the US on advanced clean manufacturing,” said Scott MacDougall, a senior advisor at the Pembina Institute, a clean energy think-tank.
However, it “falls short of what’s needed to put Canada on track to achieve its climate goals, missing major increased funding to support net-zero electricity generation and infrastructure,” he added.
Freeland last month promised an initial “response” to the US Inflation Reduction Act (IRA), which was signed into law by US President Joe Biden earlier this year and contains generous incentives for consumers and businesses to make the low-carbon…
