Submission_CCUS and ITC Tax Credits_09082023_FINAL

Recommendations for the design of the Carbon Capture, Utilization and Storage (CCUS) Tax Credit Clean Energy Canada supports the Government’s emphasis on permanent geological storage in the proposed tax credit design. [...] At the same time, the Government of Canada should review the definition of “eligible use” regularly going forward as technology readiness, particularly in the key heavy industry sectors, may evolve quickly. [...] Recommendations for the design of the Clean Technology Investment Tax Credit Clean Energy Canada applauds the release of further details concerning the proposed Clean Technology Investment Tax Credit. [...] Recommendations on timeline for finalization of all clean economy tax credits Clean Energy Canada encourages the Government of Canada to also finalize all details of the Investment Tax Credit for Clean TechnologyManufacturing, the Investment Tax Credit for Clean Electricity and the Investment Tax Credit for Clean Hydrogen before the end of 2023. [...] finalizedmany of its clean energy tax credits under the Inflation Reduction Act and the fact that businesses will be able to claim only one of Canada’s clean economy tax supports in the event that a particular technology is eligible for more than one, any further delay in finalizing the details of these measures creates the risk that Canada will lose out on significant levels of potential investme.