CanREA welcomes Canada’s new budget

Green stimulus measures an important contributor to restarting the economy

Ottawa, April 20, 2021 – The Canadian Renewable Energy Association (CanREA) commends the Government of Canada for including a number of important green stimulus measures in the latest federal budget, “A Recovery Plan for Jobs, Growth and Resilience,” released April 19, 2021.

“The 2021 budget recognizes that renewable energy and other green technologies have an important role to play in recharging Canada’s economy in the wake of the COVID-19 pandemic while at the same time supporting concrete action to mitigate the climate crisis,” said Robert Hornung, President and CEO of CanREA.

“We are pleased to see the budget clearly reconfirm this government’s priority on actions to reduce greenhouse-gas emissions and transition Canada to a net-zero energy future.”

CanREA was particularly pleased to see the budget include commitments to the following measures:

  • $4.4 billion in funding for Canada Mortgage and Housing Corporation to provide zero-interest loans, of up to $40,000 each, for deep green energy-efficiency retrofits, including on-site renewable energy generation, such as rooftop solar. Investments in retrofits of existing buildings will stimulate significant job creation and economic activity while also reducing greenhouse-gas emissions.
  • A strengthened financial commitment to the Federal Clean Electricity Fund, which will allow all federal buildings to be powered with 100 per cent renewable energy by 2022 and stimulate new renewable-energy development, particularly in Alberta.  
  • Increased incentives for domestic manufacturing through a commitment to cut income tax rates in half for corporations and small businesses that manufacture zero-emission technologies, including those related to wind energy, solar energy, energy storage and green hydrogen.

“CanREA notes the budget’s commitment to greenhouse-gas emission reductions and looks forward to the Federal Government announcing a more ambitious target for 2030 in the coming days,” said Hornung.

“We are confident that wind energy, solar energy and energy storage will play a critical role in meeting the 2030 target,” Hornung continued.  “CanREA will work with the Government on further measures to significantly accelerate Canada’s transition to the expanded non-emitting electricity grid that will be required for net-zero to become a reality.”

Quotes

“The 2021 budget recognizes that renewable energy and other green technologies have an important role to play in recharging Canada’s economy in the wake of the COVID-19 pandemic while at the same time supporting concrete action to mitigate the climate crisis. We are pleased to see the budget clearly reconfirm this government’s priority on actions to reduce greenhouse-gas emissions and transition Canada to a net-zero energy future.”

“CanREA notes the budget’s commitment to greenhouse-gas emission reductions and looks forward to the Federal Government announcing a more ambitious target for 2030 in the coming days. We are confident that wind energy, solar energy and energy storage will play a critical role in meeting the 2030 target.”

“CanREA will work with the Government on further measures to significantly accelerate Canada’s transition to the expanded non-emitting electricity grid that will be required for net-zero to become a reality.”


—Robert Hornung, CanREA’s President and CEO

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About the Canadian Renewable Energy Association (CanREA)

The Canadian Renewable Energy Association is the voice for wind energy, solar energy and energy storage solutions that will power Canada’s energy future. We work to create the conditions for a modern energy system through stakeholder advocacy and public engagement. Our diverse members are uniquely positioned to deliver clean, low-cost, reliable, flexible and scalable solutions for Canada’s energy needs. Our vision is to ensure wind energy, solar energy and energy storage play a central role in transforming Canada’s energy mix.

Learn more at renewablesassociation.ca. Follow us on Twitter and LinkedIn. Subscribe to our newsletter here. Become a member here.

For more information or for interview opportunities, please contact:

Bridget Wayland, Communications Director
Canadian Renewable Energy Association
613-227-5378
[email protected]