Global warming is real and the negative effects are already being felt around the world.
The Canadian Federal government wants to accelerate the use of green energy to help contribute to the solution.The Federal Government’s Fall Economic Statement includes tax incentives for businesses that would like to invest in clean energy solutions.
One way businesses can help is by installing rooftop solar panels. The government is providing a 100% tax write off for renewable energy systems commissioned after Nov 20 2018. The business can write it off in year one as an investment. The program includes solar energy, wind energy, battery storage and electric vehicle infrastructure. The program will run for a limited time, gradually phasing out between 2024 and 2027.
At the same time, the federal government has also announced the formation of an Advisory Council on Climate Action. The purpose of this council is two-fold. First, it is to provide advice on how to reduce pollution. Secondly it is to encourage economic growth in the transportation and building sectors.
Solar energy will play a major role in the reduction of pollution. These tax incentives provide an excellent opportunity for a business to make major changes to their environmental footprint. Once in place these systems result in stable energy costs. For any business this presents a win-win-win solution. Tax breaks, reduced energy costs and contribution to solving global warming.