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Renewable Energy Policy in Canada

Renewable Energy Policy in Canada. Living on a Finite Earth: Energy Law and Policy for a New Era Journal of Environmental Law and Litigation October 10, 2008. Shi-Ling Hsu Associate Dean University of British Columbia Faculty of Law. British Columbia: 90% hydro

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Renewable Energy Policy in Canada

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  1. Renewable Energy Policy in Canada Living on a Finite Earth: Energy Law and Policy for a New Era Journal of Environmental Law and Litigation October 10, 2008 Shi-Ling Hsu Associate Dean University of British Columbia Faculty of Law

  2. British Columbia: 90% hydro 10% nat gas Alberta: 48% coal 42% nat gas 10% wind, hydro Ontario: 43% nuclear 25% coal + oil 25% hydro 7% nat gas Manitoba: 95% hydro 5% other Quebec: 93% hydro 7% other

  3. Federal Policy “ecoEnergy” production subsidies: 1¢/kwh for 10 years Projects must be commissioned by March 2011 electricity must be for sale in Canada

  4. Registered ecoEnergy projects, by type number Capacity (MW)

  5. Registered ecoEnergy projects, by province number Capacity (MW)

  6. Federal tax incentives S. 43.1 – same tax benefits as for oil sands development, oil & gas development, Canadian Explorer Expense, Canadian Development Expense: accelerated depreciation (30%), indefinite loss carryforward non-renewable tax benefits were more than $1 B in 2000, 2001, and 2002 CRCE – deduct expenses for… feasibility studies siting survey, preparation and development costs resource assessment studies service connection costs Flow-through share agmts

  7. BC Energy Plan (2007) Clean Power Call: submit proposals by Nov 2008, in service by 2016 Standard Buy Offer Program: small renewable projects (< 10MW) 6.9¢ to 8.4¢/kwhr Bioenergy Initiative: $25M in funding

  8. Ontario tax incentives • Standard Buy Offer Program: • small renewable projects (< 10MW) • 11¢/kwhr, 14.5¢/kwhr if baseload • 42¢/kwhr for solar • corp retail sales tax rebate for building materials • corp income tax deduction for new assets • capital gains tax exemption • provincial sales tax rebates for residential solar

  9. Joseph Stiglitz on Climate Change: "There is a way out, and that is through a common (global) environmental tax on emissions…." Economists' Voice, July 2006 Gregory Mankiw on Climate Change: Here are three votes for a carbon tax: Tierney, Nordhaus, and Mankiw…. What do we all have in common? None of us is planning to run for elected office. Gregory Mankiw's Blog, May, 2006 Also: Alan Greenspan, Martin Feldstein, Gary Becker…

  10. Carbon taxes in Canada Quebec: sale of fossil fuels  less than 1 cent/litre of gas British Columbia: sale of fossil fuels ≈ $9.50/ton CO2 up to $30/ton  2.4 ¢/litre up to $7.4 ¢/litre Revenue neutrality -- $100 BC "dividend"; pers & corp income taxes, "rural aid"; low-income aid Federal Liberal Party: “Green Shift” expand 10 ¢/litre excise tax to other fossil fuels

  11. "Green Shift": expand 10¢/litre (=$42 tonne CO2) to other fossil fuels: coal, natural gas, heating oil, propane, jet fuel, etc. Revenue neutrality: lower lowest income tax rate, working income tax credit, rural/Northern relief, lower corp taxes, accelerated cost deprec for green technologies, R&D funding…

  12. "Green Shift": expand 10¢/litre (=$42 tonne CO2) to other fossil fuels: coal, natural gas, heating oil, propane, jet fuel, etc. "The National Energy Program was designed to screw the West and really damage the energy sector and this will do those things … But this is different. It will actually screw everybody across the country." "Those advocating a carbon tax suggest that by making the costs for certain things more expensive, people will make different choices," Layton said. "But Canada is a cold place and heating your home really isn't a choice." Revenue neutrality: lower lowest income tax rate, working income tax credit, rural/Northern relief, lower corp taxes, accelerated cost deprec for green technologies, R&D funding…

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