Climate Competitiveness Strategy and the long-awaited Clean Electricity Investment Tax Credits expected to spur rapid growth in renewable energy
Ottawa, November 4, 2025—The Canadian Renewable Energy Association (CanREA) is encouraged by the policy direction set by the federal government in its budget tabled in the House of Commons earlier today by the Honourable François-Philippe Champagne, Minister of Finance and National Revenue. A new climate strategy laid out in Budget 2025: Canada Strong sends businesses a clear signal that Canada is a safe and stable place to invest in wind, solar and energy storage projects.
CanREA welcomes the clearly articulated Climate Competitiveness Strategy, which will serve as a north star for Canada’s policy choices in a rapidly shifting economic landscape. “We see the Climate Competitiveness Strategy that was laid out in today’s budget as a commitment to keeping Canada a top-tier place to invest in renewable energy and energy storage,” said Vittoria Bellissimo, President and CEO of CanREA. “By doing so, the federal government is ensuring that companies and Canadians will have access to the low-cost and low-carbon power they need to grow the economy and prosper.”
Budget 2025 proposes to introduce legislation to finalize the Clean Economy Investment Tax Credits (ITCs). CanREA is particularly pleased to see that the Clean Electricity ITC will finally be available to renewable energy investors—including municipal and Indigenous corporations—if Parliament passes the forthcoming Budget Implementation Act.
“The Clean Electricity ITC will help to build critical infrastructure like interprovincial transmission and will begin to level the playing field for municipalities and Indigenous companies,” said Fernando Melo, CanREA’s Senior Director of Public Affairs and Federal Policy. “However, by failing to provide Indigenous companies and communities with an ITC rate that is equivalent to their non-Indigenous competitors and collaborators, the federal government has not meaningfully addressed a significant barrier to Indigenous equity ownership of renewable energy and energy storage projects.”
On the emissions reduction front, the Strategy further commits to strengthening Canada’s national greenhouse gas (GHG) accounting and pricing systems, providing CanREA’s membership with the policy certainty they need to make long-term investments in Canada’s electricity systems. “A strong carbon accounting and pricing system is the foundation on which Canada’s economic competitiveness is built,” said Melo.
CanREA and its members look forward to the tabling of the implementing legislation and to working with all parliamentarians to pass the elements critical to keeping Canada a stable place for companies to invest in nation-building wind, solar and energy storage projects.
Quotes
“We see the Climate Competitiveness Strategy that was laid out in today’s budget as a commitment to keeping Canada a top-tier place to invest in renewable energy and energy storage. By doing so, the federal government is ensuring that companies and Canadians will have access to the low-cost and low-carbon power they need to grow the economy and prosper.”
—Vittoria Bellissimo, President and CEO, Canadian Renewable Energy Association (CanREA)
“The Clean Electricity ITC will help to build critical infrastructure like interprovincial transmission and will begin to level the playing field for municipalities and Indigenous companies. However, by failing to provide Indigenous companies and communities with an ITC rate that is equivalent to their non-Indigenous competitors and collaborators, the federal government has not meaningfully addressed a significant barrier to Indigenous equity ownership of renewable energy and energy storage projects.”
“A strong carbon accounting and pricing system is the foundation on which Canada’s economic competitiveness is built.”
—Fernando Melo, Senior Director of Public Affairs and Federal Policy, Canadian Renewable Energy Association (CanREA)
For media inquiries or interview opportunities, please contact:
Joshua Bleser, Manager of Communications
Canadian Renewable Energy Association
communications@renewablesassociation.ca
About CanREA
The Canadian Renewable Energy Association (CanREA) 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. For more information on how Canada can use wind energy, solar energy and energy storage to help achieve its net-zero commitments, consult Powering Canada’s Journey to Net-Zero: CanREA’s 2050 Vision. Follow us on Bluesky and LinkedIn here. Learn more at renewablesassociation.ca.