mar 29, 2023 - (CANADA) Clean H2 Investment Tax Credit of $5.6bn

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In its 2023 Budget, the Canadian government provided information on its CAD$5.6 billion ($4.1 billion) Clean Hydrogen Investment Tax Credit and described how the Canada Growth Fund will assist in the sector’s initiation.
In order to ensure that Canadian businesses can continue to compete on a worldwide scale, the investment tax credit, which was announced last November (2022), is scheduled to be accessible for clean hydrogen generation depending on the lifecycle carbon intensity of hydrogen.

The credit provides a tiered structure depending on hydrogen carbon intensity, supporting between 15 and 40% of qualified projects. Projects producing less than 0.75 kg CO2/kg H2 receive a 40% credit, 0.75-2 kg CO2/kg H2 receive 25%, and 2-4 kg CO2/kg H2 only receive 15% credit.

https://energynews.biz/canada-reveals-tax-benefits-for-clean-hydrogen-in-2023-budget/

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