Loading ...CANADA – Provinces may have to agree to Ottawa’s 2035 clean power target to access funding
The federal government is considering restricting billions of dollars in tax credits and grants for electricity projects to provinces that commit to the 2035 target for an emissions-free electricity grid.
The federal budget already made clear the restriction would be in place for the new refundable 15 per cent clean electricity investment tax credit, which is for investments in non-emitting electricity production, storage and interprovincial transmission.
But there are several other new investment tax credits for hydrogen production, clean technology and carbon capture and storage systems, worth tens of billions over the next 12 years. There is also at least $3 billion in grants for renewable electricity projects and technology upgrades to make the grid more efficient, and the federal government has promised to consider helping fund transmission lines inside provinces in certain situations.