📢 STATEMENT: Marine Renewables Canada Welcomes Federal National Electricity Strategy, Calls for Clean Electricity Investment Tax Credit Timeline Extension
Marine Renewables Canada (MRC) welcomes the federal government’s release of Powering Canada Strong: A National Strategy for an Electrified Canadian Economy - an important step toward building the modern electricity system Canada will need to remain competitive, affordable, and energy secure through 2050.
The strategy reflects many of the core recommendations outlined in MRC’s Marine Renewable Energy Sector Vision 2050, including the need to double Canada’s electricity supply by 2050 through accelerated electrification, expanded transmission infrastructure, modernized regulation, stronger workforce capacity, investment in domestic supply chains, and greater regional cooperation.
We are encouraged to see:
→ Federal leadership in advancing renewable energy and transmission development
→ Recognition of integrated regional electricity systems as key enablers of clean energy investment
→ Commitments to improve regulatory certainty through a more coordinated “single-window” federal approach
→ Prioritization of transmission projects through the proposed Transmission InterConnect Investment Strategy
→ Recognition of Nova Scotia’s proposed Wind West offshore wind development as a priority clean electricity project
At the same time, Canada’s clean energy buildout will span decades, and investment frameworks must reflect this reality. MRC continues to call for an extension of the Clean Electricity Investment Tax Credits (ITCs) to 2040 to better align with offshore wind and transmission development timelines. Offshore wind projects typically require 7-10 years to develop, while transmission infrastructure can take even longer.
“Today’s announcement is an important foundation, but the work is far from finished,” said Elisa Obermann, Executive Director of Marine Renewables Canada. “Canada still needs long-term certainty around investment tax credits, accelerated regulatory and permitting reforms, expanded support for transmission infrastructure and energy storage, and clear implementation pathways that allow projects to move forward quickly and affordably. There is particular urgency around advancing transmission planning and development now, as these projects require long lead times and will be foundational to enabling offshore wind and broader clean electricity expansion across Canada.”
Read our full statement here:
marinerenewables.ca/news-rel…
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