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Clean Technology Investment Tax Credit
Clean Technology Investment Tax Credit
The Clean Technology Investment Tax Credit is a refundable credit equal to 30% of the capital cost of eligible clean technology equipment that became available for use after March 27, 2023. As a refundable credit, it is available even if the company applying for it pays no tax in the current year.
Eligible Investments Include:
- Equipment to generate electricity from renewable sources.
- Stationary electricity storage equipment.
- Low carbon heating equipment.
- Non-road zero emission vehicles (ZEV) and charging equipment.
- Geothermal energy systems (eligibility expanded in Budget 2023).
Phase-Out Schedule:
- The credit will be reduced to 15% in 2034 and fully phased out after 2034.
Eligibility:
- Canadian resident corporations.
- Canadian corporations that are members of partnerships (claim an allocation of the credit on generally the same basis as certain other Investment Tax Credits).
Requirements:
- The property must be situated in Canada and intended for use exclusively in Canada.
- The property must not be used, or acquired for use or lease, for any purpose before being acquired by the taxpayer.
Types of Qualifying Clean Technology Property:
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Zero-emission electricity generation technologies:
- Solar, wind, small hydro, concentrated solar energy, small modular nuclear reactors.
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Electricity storage systems (non-fossil fuel):
- Batteries, flywheels, compressed air energy storage, pumped hydroelectric energy storage, gravity energy storage, thermal energy storage.
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Heating equipment:
- Active solar heating equipment, air-source heat pumps, ground-source heat pumps.
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Geothermal energy equipment:
- Equipment used exclusively for generating electrical energy or heat (or a combination) solely from geothermal energy (excluding systems that extract both heat from geothermal fluid and fossil fuel for sale or use).
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Non-road zero-emission vehicles:
- Fully electric or powered by hydrogen, and charging or refueling equipment primarily used to support such vehicles.
Claim Process:
- The Clean Technology Investment Tax Credit is claimed by filing a prescribed form with the claimant’s income tax return for the year in which the eligible property is acquired.
Additional Information:
- Contact your Accountant or Tax Preparer to determine if your business qualifies for the Clean Technology Investment Tax Credit or any other federal/provincial solar energy incentives.
- Individual taxpayers can also inquire about other solar energy incentives available Canada-wide, such as the Canada Greener Homes Grant and Canada Greener Homes Loan.
What is the difference between a watt and a watt-hour?
Understanding the Difference Between Watts and Watt-Hours
Knowing the difference between a watt (W) and a watt-hour (Wh) helps you understand the impact of your home energy use on your electric bill. You can also compare your home energy use to the energy generated with your Enphase microinverter system. Read on below or watch the video here.
While watts and watt-hours are related terms, they are not the same thing.
What is a Watt?
A watt (W) is a unit of power, and power is the rate at which energy is produced or consumed. Think of watts as a measure of electrical flow. Does an electrical device need a big flow or a small flow to work? For example, a 100 W light bulb uses energy at a higher rate than a 60 W bulb; this means that the 100 W light bulb needs a bigger “flow” to work. Likewise, the rate at which your solar energy system “flows” power into your home is measured in watts.
The Enphase App displays your system’s latest and daily peak power generation in kW, which is equal to 1,000 W.
What is a Watt-Hour?
A watt-hour (Wh) is a unit of energy; it’s a way to measure the amount of work performed or generated. Household appliances and other electrical devices perform “work” and that requires energy in the form of electricity. Utilities typically charge you for electrical energy by the kilowatt-hour (kWh), which is equal to 1,000 watt-hours. Depending on your interconnection agreement, your utility may credit you for excess generation which will also be measured in kilowatt-hours.
The Enphase App displays the amount of energy generated by your microinverter system in watt-hours. For example, an Enphase microinverter system might generate 400 kWh (amount) in the month of September (period of time). A kilowatt-hour (kWh) is 1,000 Wh, so 400 kWh is 400,000 Wh. In some cases, The Enphase App will display energy as megawatt-hours (MWh), which is one million watt-hours.
What is the Difference?
In a nutshell, watt-hours measure amounts of energy for a specific period of time, and watts measure rates of power at a moment in time.
A common analogy for watts and watt-hours is speed and distance. Speed is a rate of how fast you drive at an instant in time (watts); distance is the length, or amount that you drive over a period of time (watt-hours). For example, if you drive at a constant rate of 60 miles per hour for one hour, then you will have traveled 60 miles.
Similarly, if a 60 W light bulb is on for one hour, then that light bulb will have used 60 Wh of energy. If left on for two hours, then the 60 W light bulb will have used 120 Wh of energy.
Why Does This Matter?
Knowing about watts and watt-hours can give you a greater appreciation of the energy savings on your utility bills. You can compare the electric bills you received before you installed your Enphase Microinverter system to your current bills and calculate your energy savings, and in turn, your monetary savings. Keep in mind that your utility will only bill and credit you for energy that runs through your electric meter. Solar generation that is consumed by your home will not be measured by your utility.
Enphase Microinverters: Built for the Long Haul, Backed by Real Warranties
When investing in solar energy, longevity and reliability are paramount. One of the most common myths surrounding Enphase microinverters is the claim that their 25-year warranty is "too good to be true" because the company supposedly won't continue supporting older models. Silly Geese argue that if you need a replacement inverter for a 10-year-old system, the newer model won't be compatible with your existing setup.
This claim couldn’t be further from the truth. Let’s set the record straight.
Supporting Older Models with New Innovations
Enphase Energy has built its reputation on quality, reliability, and long-term support for its products. A perfect example of this is the M215 microinverter. Released around 2015, the original M215 became a trusted workhorse for countless solar systems. Fast forward to 2024, and Enphase still manufactures M215 microinverters—but now, they feature significant improvements, such as a more durable casing. These enhancements ensure that replacements are not only compatible with older systems but also benefit from years of technological advancement.
A Side-by-Side Comparison
Take a look at these two images. The first shows an M215 microinverter from around 2015, while the second showcases the 2024 version of the same model. The newer design incorporates advancements in durability and materials, reflecting Enphase’s commitment to continuous improvement without sacrificing compatibility. This ensures that even if your system needs maintenance a decade from now, your replacement inverter will work seamlessly with your existing setup.
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The Reality of a 25-Year Warranty
Enphase's 25-year warranty isn't just a promise; it’s a commitment to the longevity of your solar investment. By manufacturing updated versions of older models, Enphase ensures that customers receive the best of both worlds—compatibility with existing systems and the benefits of modern advancements. This dedication not only protects your investment but also highlights the company’s customer-first approach to solar energy solutions.
Conclusion
Don’t be misled by competitors’ myths. Enphase stands behind its products with one of the longest warranties in the industry and a proven track record of supporting older systems. When you choose Enphase, you're not just buying cutting-edge solar technology—you’re securing peace of mind for decades to come.