On November 7th Canada’s Federal Government announced an updated federal tax deduction policy which will improve your return on investment in solar energy.
Under the so-called “Productivity Super-Deduction” companies which acquired a solar energy generation system after 2024 will be able to apply for “100% expensing” in tax year one.
This means you can write off 100% of your capital costs in a single tax year.
This measure reverses the previous sunset of the Accelerated Investment Incentive for solar energy projects which was initiated in 2018.
See the government’s announcement here.
The upshot for solar energy investors is a faster simple payback of between six months to two years, and an increased ROI.
Reach out to Alectric Renewables today to learn more about how your company can benefit.
