Primary Country (Mandatory)

United States

Other Country (Optional)

Set News Language for United States

Primary Language (Mandatory)
English
Other Language[s] (Optional)
No other language available

Set News Language for World

Primary Language (Mandatory)
English
Other Language(s) (Optional)

Set News Source for United States

Primary Source (Mandatory)
CNN
Other Source[s] (Optional)

Set News Source for World

Primary Source (Mandatory)
AajTak
Other Source(s) (Optional)
  • Countries
    • India
    • United States
    • Qatar
    • Germany
    • China
    • Canada
    • World
  • Categories
    • National
    • International
    • Business
    • Entertainment
    • Sports
    • Special
    • All Categories
  • Available Languages for United States
    • English
  • All Languages
    • English
    • Hindi
    • Arabic
    • German
    • Chinese
    • French
  • Sources
    • India
      • AajTak
      • NDTV India
      • The Hindu
      • India Today
      • Zee News
      • NDTV
      • BBC
      • The Wire
      • News18
      • News 24
      • The Quint
      • ABP News
      • Zee News
      • News 24
    • United States
      • CNN
      • Fox News
      • Al Jazeera
      • CBSN
      • NY Post
      • Voice of America
      • The New York Times
      • HuffPost
      • ABC News
      • Newsy
    • Qatar
      • Al Jazeera
      • Al Arab
      • The Peninsula
      • Gulf Times
      • Al Sharq
      • Qatar Tribune
      • Al Raya
      • Lusail
    • Germany
      • DW
      • ZDF
      • ProSieben
      • RTL
      • n-tv
      • Die Welt
      • Süddeutsche Zeitung
      • Frankfurter Rundschau
    • China
      • China Daily
      • BBC
      • The New York Times
      • Voice of America
      • Beijing Daily
      • The Epoch Times
      • Ta Kung Pao
      • Xinmin Evening News
    • Canada
      • CBC
      • Radio-Canada
      • CTV
      • TVA Nouvelles
      • Le Journal de Montréal
      • Global News
      • BNN Bloomberg
      • Métro
MoreBack to News Headlines
Giant U.S. subsidies begin luring Canadian clean tech companies and talent to move south

Giant U.S. subsidies begin luring Canadian clean tech companies and talent to move south

CBC
Monday, June 19, 2023 8:55 AM GMT

The timing couldn't have been better for Calgary-based Kanin Energy to open an office in Texas last year. It was just as the U.S. government unveiled its massive climate bill, including tens of billions of dollars in new subsidies and other incentives for clean energy. 

Kanin Energy develops facilities that use high temperature waste heat from industrial facilities to produce electricity. The new U.S. subsidies now cover up to half the cost of those projects.

"Not only are we seeing a lot of traction in Houston and Texas and in the United States in general, now there's all these incentives that have really turbocharged our economics for our projects," Janice Tran, the company's CEO, said from her office in Houston. "So it made even more sense to actually kind of double down and grow here."

U.S. President Joe Biden's Inflation Reduction Act (IRA) is driving many Canadian clean energy startups to shift their focus and resources south of the border to capitalize on the subsidies and the related influx of activity. 

Experts say this could result in the loss of investment in Canada, which could slow the development of clean energy and emission reduction projects north of the border and make it more difficult to achieve national climate goals. There is also the risk of losing trained workers, known as brain drain.

The Canadian government is introducing its own grants, but some industry executives say Ottawa's support is too narrow or not robust enough to compete with what's offered in the U.S.

For Tran, her company doesn't qualify for the investment tax credit in Canada, which can cover up to 30 per cent of the cost of many green energy and clean tech projects such as renewable energy, battery storage and hydrogen production.

Kanin Energy is now hiring in the U.S. and will begin shifting staff south of the border if it doesn't gain any traction on its Canadian proposals.

"We're going to grow in the United States because that's where it makes sense," Tran said. "In Canada, the economics, they're just not as high. So we don't have any projects that are currently in late-stage development. Everything that we have in Canada is early stage."

Since the passing of the IRA last year, dozens of multi-billion dollar energy transition projects were approved, said Kevin Krausert, CEO of Avatar Innovations, an energy innovation and investment firm.

"Companies are fleeing Canada right now," said Krausert. "I can't think of an interesting energy technology startup working on net-zero ambitions that is not actively setting up shop in the United States right now."

The federal government needs to offer incentives that are comparable to the IRA, he said, to slow down the amount of investment dollars leaving Canada.

"If you are an investor and you want to invest a dollar in emissions reductions technologies, are you going to invest that dollar in Canada or are you going to invest in the United States where you can generate a much superior return right now?" he said.

The federal government began consultations this month on its proposed investment tax credit. Government officials say the tax credit is one piece of its overall strategy to attract clean energy investments. Overall, Ottawa has committed $120-billion to building a clean energy economy since 2015, a spokesperson said.

Read full story on CBC
Share this story on:-
Run 3 Space | Play Space Running GamePlay Run 3, the ultimate space tunnel running game with 300+ challenging levels!Adv.
Traffic Jam 3D | Online Racing GameTraffic Jam 3D is a game where you’ll be driving through heavy traffic.Adv.
Duck Hunt | Play Old Classic GamePlay the classic 1984 light gun shooter game Duck Hunt on your browser.Adv.
More Related News
Adam Drake guilty of murder in fatal stabbing of battle rapper Pat Stay

A Nova Scotia jury has found a 34-year-old man guilty of second-degree murder in the killing of battle rapper Pat Stay, a 36-year-old father of two who was fatally stabbed 2½ years ago at a downtown Halifax nightclub.

Saint Andrews property owners speak out against wharf refurbishment plan

Some property owners in Saint Andrews are speaking out against a plan to refurbish the Market Wharf, although the design was chosen by the public in a community vote.

Family wants justice after lone survivor of 2023 West Broadway mass shooting dies in hospital

The lone survivor of a mass shooting in a West Broadway rooming house is being mourned by his family after he died in a Winnipeg hospital earlier this month, more than a year and a half after the shooting that left four others dead.

Still waiting: Handful of Sask. communities remain under evacuation orders

The mayor of Creighton says residents will have to remain patient, as the northeastern Saskatchewan town waits for health-care services to restart in the neighbouring city of Flin Flon, Man.

'Desperate for rainfall': Farmers, ranchers in southwest Sask. reeling from another dry year

A rural municipality in southwest Saskatchewan is sounding the alarm as the worst dry conditions in almost a decade push crops and livestock to the brink.

Johnson 'has absolutely no insight' into his voyeurism crimes, judge says while jailing him

Warning: This story contains details some may find disturbing.

Food processing company pleads guilty to charge in death of Edmonton man

A commercial food processing company has pleaded guilty to a workplace safety charge after an Edmonton worker became trapped in a smokehouse and died.

The friend, the family, their aunt and her lover: Court fight looms over $1M estate left to male escort

The will of a deceased B.C. woman will be contested by an old friend, her closest living relatives and a male escort approximately 54 years her junior following a decision by a provincial Supreme Court judge.

Quebec police find important witness in search for missing toddler

In the search for three-year-old Claire Bell, Quebec provincial police have located an important witness they say spoke to her mother on Sunday — just hours before she reported her child missing. 

Toronto cop gets suspended sentence, probation for assault over fake watch sale where man later died

An off-duty Toronto police officer has received a suspended sentence and a year of probation after being found guilty of assault for forcing a Brampton man to the ground in 2021 over a fake Apple watch in a Kijiji deal gone bad.

P.E.I. Fishermen's Association monitoring after entangled right whale prompts fishing restriction

The P.E.I. Fishermen's Association says it is closely monitoring the situation after Fisheries and Oceans Canada restricted a fishing area off P.E.I. waters due to the detection of an entangled North Atlantic right whale very close to the Island's coast.

Calgary startup tackles referee abuse with microphones and machine learning

Abuse of referees in amateur sport has been an issue for decades and all sorts of attempts have been made to curb the problem, from sternly worded signs that remind fans to be respectful to green armbands that identify novice officials to body-worn cameras that record footage from the refs' perspectives.

4 years after vanishing, painting at heart of $11M lawsuit re-emerges — but mystery far from over

When his lawyer's name flashed on his phone early last month, Michael Murray ducked out to answer the call — the physician was in the middle of seeing patients at his medical clinic in Hawaii, but this call from Toronto felt important. 

Parking Slot | Free Parking GamePlay Parking Slot, the best online 3D car driving and parking game.Adv.
Slope Ball Run - Play OnlineSlope Game takes you on an exciting journey of a ball on special paths.Adv.
Proposed wage hikes have 'uplifted' P.E.I.'s health support services workers, says union

After two years of negotiations, Health P.E.I. has reached an agreement on wages for support services staff that the union representing the workers is calling "historic." 

Canadians desperate to hear from families in Iran as violence escalates and routes out are limited

Iranian-Canadians are trying desperately to get in touch with friends and family in Iran as missiles fall and routes out of the country are limited. 

Doug Ford says he treats First Nations 'like gold' but they 'keep coming hat in hand'

Ontario Premier Doug Ford says he is willing to give First Nations what they want for their support in developing mines, but they cannot "keep coming hat in hand all the time to the government" for more money.

N.W.T. utilities board cuts NTPC salary increase, rejects some costs in rate application decision

The N.W.T.'s public utilities board has denied part of the Northwest Territories Power Corporation's (NTPC) request to increase rates, and directed it to cut planned increases to management salaries and benefits.

After deadly year on roads, Calgary explores using drones and VR for traffic safety

After reporting an 11-year high for collision fatalities last year, Calgary is turning to new technology in an attempt to make its roads safer.

No new fireworks bylaw in Cambridge for now as council opts to wait for more information

There will be no changes to Cambridge's fireworks bylaw — for now.

In rural Alaska, a village turns to solar and biomass energies to cut diesel and save money

Eric Huntington built his dream cabin nestled in the wilderness of central Alaska, eventually raising two daughters there. But over the years, he learned that living in this quiet, remote village came with a hefty cost.

A Canada-Israel rift is widening over UN votes and sanctions

Israel's war with Iran has temporarily delayed a reckoning with some of its main Western allies, but seems unlikely to close what has become a yawning gap between them over its conduct in Gaza and the West Bank.

Grizzly bears, cougars, sheep and deer met without incident during G7, officials say

As the G7 summit concludes in the popular wilderness destination of Kananaskis, Alta., officials say provincial teams managed frequent animal encounters without serious incident.

Man, 21, charged with armed carjacking after fall from Gardiner Expressway, police say

Toronto police say a 21-year-old man has been charged in an armed carjacking, after he fell from the Gardiner Expressway on Monday night while allegedly fleeing from officers.

A fugitive landlord is at large. Where does that leave dozens of his Ontario tenants?

Tenants of buildings owned by a wanted fugitive could be safe from eviction if the bank or a new landlord take over, a legal expert says. 

Badger residents flee as wildfire approaches community, infrastructure

Residents of Badger, N.L. are fleeing the community as smoke from a nearby wildfire clouds the air, and waterbombers pass overhead every few minutes.

© 2008 - 2025 Webjosh  |  News Archive  |  Privacy Policy  |  Contact Us