The Canadian government recently released its 2018 Fall Economic Statement – Investing in Middle Class Jobs which provides a roadmap of the government’s current plan to grow the economy. In the Statement, the government proposes to “increase investment in the clean technology sector by allowing specified clean energy equipment to be eligible for an immediate write-off of the full cost. This will help achieve climate goals, and position Canada to be more globally competitive.”
The Canadian Wind Energy Association’s (CanWEA) president, Robert Hornung made this statement following the release of the Fall Economic Statement:
“The Canadian Wind Energy Association commends the federal government for introducing immediate expensing for clean energy equipment, allowing for a full write off the year specified equipment (i.e. Wind Energy Conversion Systems) is put in use, and also for the Accelerated Investment Incentive, which makes all capital investments eligible for a first-year deduction for depreciation equal to three times the amount that would otherwise apply in the year an asset is put in use.
These fiscal measures play an important role in attracting investment and helping renewable energy developers lower their costs, benefitting ratepayers as Canada strives to meet its climate change targets through increased use of non-greenhouse gas emitting electricity generation like wind energy.
CanWEA also welcomes the actions outlined in the Fall Economic Statement encouraging regulators to consider economic competitiveness when designing and implementing regulations. A commitment to regulatory competitiveness, when combined with the new tax changes and other measures and policies that have been implemented by the federal government, such as its commitment to pricing carbon, are critical enablers of Canada’s transition to a low-carbon future.”
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