But there are several other new investment tax credits for hydrogen production, clean technology and carbon capture and storage systems, worth tens of billions over the next 12 years. There is also at least $3 billion in grants for renewable electricity projects and technology upgrades to make the grid more efficient, and the federal government has promised to consider helping fund transmission lines inside provinces in certain situations.
The 2035 clean-power target will be enshrined in regulations, and Guilbeault is expected to publish the first draft of those rules as early as this week. They will spell out, for example, a timeline for natural gas power plants to be closed or fitted with carbon-capturing systems. “We will not attempt the impossible when it comes to power production in our province,” Saskatchewan Premier Scott Moe said in May.“We will not attempt the impossible when it comes to power production in our province,” Saskatchewan Premier Scott Moe said in May.
Aiming for net-zero electricity earlier is key because it unlocks the potential to decarbonize many other industries down the road. Electric vehicles, for example, are only non-emitting if the power used to charge their batteries comes from non-emitting sources. He also said the disagreement isn’t about whether to build non-emitting electricity. It’s about how fast to do it.