The Canadian federal government has released a document outlining its vision for a net-zero grid by 2035. The plan summarises several investment tax credits with the goal of expediting the expansion of clean electricity generation and infrastructure. This includes financial support for initiatives such as carbon capture storage and utilisation, clean technology, and clean hydrogen projects. More than CAD 400bn (almost US$300bn) are estimated to be needed to replace aging plants and expand electricity generation capacity.
To be eligible for clean electricity investment tax credits, Canada's provinces, which are primarily responsible for electricity generation and delivery infrastructure within their borders, will be required to be moving toward non-emitting power grids. Several provinces, including Alberta and Saskatchewan, target a carbon neutral power system by 2050. The country aims to reach net zero emissions by 2050. In 2022, carbon-free energy sources accounted for 82% of Canada’s power generation, with 60% of hydro, 13% of nuclear, 6% of wind, 2% of biomass and 1% of solar.
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