Moved by Liberal Party of Canada (Alberta)
WHEREAS within the Prime Minister’s mandate to the Minister of Natural Resources is to "explore opportunities to enhance existing tax measures to generate more clean technology investments, and engage with provinces and territories to make Canada the world’s most competitive tax jurisdiction for investments in the research, development, and manufacturing of clean technology"1;
WHEREAS that have stymied Canadian development as compared to Wind and Solar projects;
WHEREAS geothermal does not have access to the Canadian Exploration Expense (CEE) and Canadian Development Expense (CDE) programs and so does not have the same geoscience insurance against failed exploration (“dry wells”) that the Natural Gas industry does;
WHEREAS the Canada Revenue Agency allows mineral exploration, as well as oil and gas companies the use of flow through shares (FTS) to mitigate risk and raise start-up capital but Geothermal developments are currently not included;
BE IT RESOLVED that the above tax programs be modified so that Geothermal can compete with other green technologies on an equal footing through the inclusion of Geothermal in the CDE, CEE, and FTS programs. With those three amendments to the tax code, Geothermal can become the powerful industry that Canada requires2;
BE IT FURTHER RESOLVED that the cap be removed on the size of geothermal plants to allow a scaling up of geothermal industry3.