Friday, May 5, 2017

Canada: Geothermal Energy Industry Gets Major Boost in Funding

Canada’s Federal Budget Prioritizes Geothermal Energy (Boss Magazine)

The geothermal energy industry just got a major boost in funding necessary to become more accessible to households and businesses throughout Canada.

On March 22, Canada’s federal budget announced the increased funding of geothermal energy.

An expansion in funding is essential for the production of geothermal energy as it will grant bigger tax cuts to investors—making it more incentivised  to take an interest.

Upfront investments are much higher than that of other renewables due to the high-risk nature of geothermal energy exploration.

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