For more than a decade, advocates of geothermal energy have pushed for the same kind of treatment other energy producers receive from the federal government — with little progress.
But with the release of the federal budget on March 22, that changed.
The budget included the expansion of financial mechanisms to geothermal, which will allow these emerging renewable energy operators to write off more expenses. The change is significant for geothermal energy, which requires higher upfront investments than wind or solar.
“This is a milestone for us,” said Alison Thompson, chair and co-founder of the Canadian Geothermal Energy Association (CanGEA). “We’re legitimate. We’re there.”