By Zoë Thoms, Energy Insider, Aird & Berlis LLP.
It has only been a few days since prime minister-designate Justin Trudeau’s election win and we are still over a week away from cabinet appointment announcements. It will be some time before the new federal Liberal government’s energy policy begins to take shape. However, the Liberal platform holds some clues as to what Ontario’s energy sector may expect to see in the near future.
Investment in Clean Tech and Green Infrastructure
The Liberals pledged new investments to support clean tech, including $200 million annually to support clean tech in the forestry, fisheries, mining, energy and agricultural sectors and $100 million per year in clean tech incubators, including Sustainable Development Technology Canada.
Clean tech will also be specifically incorporated into the existing scientific research and experimental development tax credit to facilitate investment. Electricity storage technologies and electrical car charging stations will be added to the list of investments eligible for accelerated capital cost allowance.