The tax credits were designed to help Canada compete with the U.S., but the delay is driving companies south of the border.
Evan Wilson, a vice president with the Canadian Renewable Energy Association, said his members were pleased to see the government match what was on offer in the U.S., but now they need specifics.
Wilson said many of the renewable energy products are being led by multinational companies who have teams from both the U.S. and Canada pitching projects, and right now the Americans have an edge. The Business Council of Canada has urged the government to speed up the work on the ITCs so companies can start applying for and receiving credits. The government consulted on the credits this summer and the council’s underlying message was to hurry up.
A government source speaking on background, because they were not authorized to speak publicly insisted finalizing the credits is a high priority and something they hope to complete soon.
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