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Canada’s budget includes energy storage tax credit in wave of cleantech investment

March 30, 2023

Canada will introduce tax credit incentives and invest in developing and manufacturing solar PV, energy storage and other renewable energy technologies in an Inflation Reduction Act-style scheme.

The Government of Canada has released its 2023 budget, which positions growing the clean economy as one of its core priorities, alongside healthcare and ‘affordability’. Under the budget, the government has confirmed the 30% refundable tax credit on investments made by taxable entities into clean energy technologies like solar, battery storage and wind. This builds on its first announcement in the Fall Economic Statement 2022 plan, which was covered on

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