What is Canada's new solar investment tax credit?

From pv magazine USA Canada’s federal government has outlined a new, six-year investment tax credit that puts a 30% tax credit in place for solar, wind and energy storage projects deployed through March 2034.

How does Canada support solar energy?

Canada’s commitment to renewable energy is reflected in its supportive policies and incentives. Federal and provincial programs offer grants, tax credits, and rebates to encourage solar adoption. Net metering and feed-in tariffs further incentivize homeowners and businesses to invest in solar energy systems.

Does Canada have a solar rebate program?

Canada’s most petite province boasts three solar incentives, including the Solar Electric Rebate Program, which offers substantial rebates to make solar energy more accessible for homeowners, businesses, and farmers. For residential installations, the program offers $1,000 per kW installed, up to 40% of installed costs or $10,000.

Does Canada have a solar PV system?

A PV installation in Canada from Invenergy Renewables. Image: Invenergy Renewables. 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.

Are there solar incentives in Newfoundland and Labrador?

Unfortunately, there are no solar incentives currently available in Newfoundland and Labrador. Despite the technology's growing affordability, solar incentives in Canada remain important to homeowners and businesses thanks to their ability to improve investment returns and shorten payback periods.

Does Canada offer a solar loan?

For now, the only federal residential solar incentive available is the Canada Greener Homes Loan, which offers up to $40,000 in interest-free financing to help homeowners pay down their solar systems. But be sure to act quickly, as the Greener Homes Loan may not remain for much longer! To learn more, read our blog: Learn more here.