On August 13, Finance Canada launched consultations on proposed amendments to regulations that will expand the Clean Electricity and Clean Technology Investment Tax Credit (ITC) programs to include waste biomass electricity and heat generating systems. For ITC eligibility, the equipment must be part of a system that consumes substantially all its energy from specified waste material, including wood waste, scrap wood, sawdust, wood chips, bark, limbs, saw-ends, and hog fuel. Equipment used to produce other solid, liquid, or gaseous biofuels made from these specified waste materials are also eligible for the proposed credit, provided that these biofuels are used solely to operate the eligible electricity/heat generating systems, mitigating against competition for wood fiber from companies solely manufacturing biofuels for sale and use by others.
CPA members considering investments in equipment to produce heat/electricity from wood residues, including wood residues for energy generation, may be eligible for the ITC. CPA is reviewing the amendments and plans to submit comments by the deadline of September 11, 2024. See Proposed ITC Amendments and Amendments Excerpts. More Info: Kevin Warkentin
