New Federal Tax and Regulatory Innovation Measures Encourage the Shift to Sustained Decarbonization
November 22, 2018
Wind industry applauds the federal government for actions to increase the tax and regulatory competitiveness of Canada’s clean energy sector
Ottawa, Ontario, November 22, 2018 – Robert Hornung, President of the Canadian Wind Energy Association (CanWEA) made the following statement following the release of the 2018 Fall Economic Statement – Investing in Middle Class Jobs by the Federal Government.
“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.”
More about the policy actions that Canada can take to fully capitalize on its massive renewable and non-emitting resource base are outlined in A Wind Energy Vision for Canada.
About the Canadian Wind Energy Association
CanWEA is the voice of Canada’s wind energy industry, actively promoting the responsible and sustainable growth of wind energy. A national non-profit association, CanWEA serves as Canada’s leading source of credible information about wind energy and its social, economic and environmental benefits. Join us on Facebook, follow us on Twitter and LinkedIn. Learn more at canwea.ca.
For more information or for interview opportunities, please contact:
Tracy Walden, Director of Media and Communications
Canadian Wind Energy Association