The Liberals’ 2023 budget includes a 15 percent refundable tax credit for companies that invest in “clean electricity,” which the Parliamentary Budget Officer (PBO) estimates will reduce federal revenues by $6 billion over four years.
A report published on June 29 states the Investment Tax Credit for Clean Electricity will be available for both taxable and non-taxable entities, including public utilities, as of the day of Budget 2024 for any projects that did not begin construction prior to the day of Budget 2023.
