Policies

25

Renewable Energy Tax Credit

Moved by Liberal Party of Canada (Manitoba)

WHEREAS:

  • the 30% Investment Tax Credit for solar and other renewable technologies and 2.3 cent per kilowatt hour Production Tax Credit for wind power in consort with state incentives have spurred a 300 % increase in wind power and 123% increase in the solar industry over the past decade;
  • California solar employers overwhelmingly cite the federal tax credits as substantially contributing to their firms’ success;
  • in Canada investment in clean energy investment in 2015 dropped 46%;
  • for every million dollars invested in renewable energy 17 jobs are created, compared with 5 for fossil fuel investment;
  • Canadian corporations are sitting on an estimated $600 billion in cash (32% of GDP) that could be invested in clean energy, with the right incentives;
  • the Americans have proven that major investment in renewable energies encouraged by tax incentives builds the economy and creates jobs without increasing our carbon footprint.

BE IT RESOLVED the Liberal Party of Canada strongly encourage the Government of Canada to create a made in Canada Tax Credit Program to drive wind, solar, geothermal, and biomass investment, as well as other renewable energy sources fashioned after the Obama plan of 2015.

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