The 2022 Fall Economic Statement proposed to introduce a refundable Clean Technology Investment Tax Credit equal to 30 per cent of the capital cost of eligible equipment. Eligible investments include equipment to generate electricity from renewable sources, stationary electricity storage equipment, low carbon heating equipment as well as non road zero emission vehicles (ZEV) and charging equipment. Budget 2023 expanded eligibility under the credit to include geothermal energy systems. The credit is available for the capital cost of property that is acquired and that becomes available for use after Budget 2023. It will be phased out in 2034.