Alberta Releases 2024 Budget

Alberta
Inclusive in the budget is $597 million over 3 years from the province’s TIER (Technology Innovation and Emissions Reduction) fund to support a suite of programs to reduce emissions and support clean technology development. 

Despite the Premier’s mandate for the Energy Minister to, “deliver on our platform commitment to support Albertans by developing and implementing an investment incentive program similar to the Alberta Petrochemical  Incentive Program for additional capital-intensive technologies related to the reduction of emissions. This includes carbon capture, utilization and storage, ammonia, helium, lithium, liquefied natural gas, geothermal and mineral development,” only an Alberta Carbon Capture Investment Program (ACCIP) was announced in the budget. 

On a positive note, the budget later states, “The Ministry continues to implement several other initiatives to advance primary and value-added energy and minerals development. These initiatives, which include the Natural Gas Vision and Strategy, the Hydrogen Roadmap and the Minerals Strategy, support the development of natural gas, LNG, hydrogen, ammonia, recycled plastics, geothermal resources, helium, lithium and other minerals, spurring investment, creating jobs and helping drive Alberta’s current and future growth.” 

We will be holding the Energy Ministry to account, commending their progress with the ACCIP, yet that there is still work to do to be inclusive of other technologies and industries — i.e., geothermal.

Full budget available here.