News
Mar 07, 2010BC Announces $100M for Clean Energy Initiative
For Immediate Release
Calgary, AB – March 6, 2010 – The Canadian Geothermal Energy Association (CanGEA) is pleased to see BC follow through on their commitment to clean energy with the release of the Province’s 2010 Budget. An additional $100 million will be earmarked for Clean Energy initiatives such as new forms of electricity generation, including wind, solar, geothermal, tidal, wave, and run-of-river applications. The specific mention of geothermal energy is a clear sign of the Province’s interest in this clean, renewable energy source.
However, of the $47 million that has already been committed to clean energy projects, no funds have been contributed to geothermal power projects. With such a high quality geothermal resource in the Province, BC is losing out on the vast benefits of geothermal power – including its ability to replace base-load energy sources and support the Province’s goal of 100% renewable power generation.
Furthermore, the geothermal industry in BC continues to fight an uphill battle as incentives for the Oil & Gas and Mining industries put geothermal energy development at a disadvantage. These incentives include;
• The extension of the Mining Flow-through Share Tax Credit Program
• Oil & Gas Stimulus Package and Royalty Relief Program for natural gas producers
• $51M for Oil & Gas Rural Road Improvement Program
To level the playing field similar incentives must be extended to the geothermal industry.
While CanGEA welcomes the Clean Energy Initiative, there remains much work to be done to advance the development of geothermal energy resources within the province.
David Gowland
Policy Director
Canadian Geothermal Energy Association