The recent passage of Bill C-15 brings the Clean Electricity Investment Tax Credit (ITC) into effect. The Clean Electricity ITC is a refundable tax credit that encourages qualifying entities to invest in certain electricity generation, storage and transmission infrastructure. ITCs are administered by the Canada Revenue Agency (CRA) and Natural Resources Canada (NRCan).
The Clean Electricity ITC enables certain taxable and non-taxable corporations to apply for a 15% refundable tax credit for investments in clean electricity property acquired from April 16, 2024 and operational on or before December 31, 2034. This includes:
- corporations owned by one or more municipalities where at least 90% of the shares or capital are owned by a municipality (as described in paragraph 149(1)(d.5) of the Income Tax Act)
- corporations owned by one or more municipalities where all of the shares or capital are owned by a municipality (as described in paragraph 149(1)(d.6) of the Income Tax Act)
- corporations owned by one or more municipalities in combination with one or more designated provincial or territorial Crown corporations
- pension corporations.
Municipalities themselves are not a qualifying corporation. Qualifying corporations must have a business number with the “corporation income tax – RC” program account type and must sign a written agreement confirming that it agrees to follow the Income Tax Act in relation to the Clean Electricity ITC. A trust may qualify if it meets certain conditions.
The Clean Electricity Investment Tax Credit is one of several ITCs available for qualifying corporations. For more information on all available ITCs please visit: Clean Economy Investment Tax Credits (ITCs)
CRA and NRCan are jointly hosting general webinars about their program and specific ITCs to help businesses learn more about the credits. Two sessions specific to the Clean Electricity ITC will be offered in June:
- June 9, 2026 at 1 pm Eastern time (English)
- June 11, 2026 at 1 pm Eastern time (French)
For any specific questions regarding the ITCs, please contact the CRA.
Briana Yee
Policy Advisor
825.319.2417
briana@RMAlberta.com
Warren Noga
Manager of Policy and Research
825.319.2285
warren@RMAlberta.com