In response to the Government of Canada’s Fall pre-budget consultations, the Cascade Institute submitted three specific recommendations to accelerate the development of Canada’s geothermal industry. The three recommendations are to:
- Establish a Geothermal Science and Technology Research Authority (GEOSTRA) to advance Canadian-made solutions and develop further expertise,
- Develop a strategic roadmap for the industry’s further development, and
- Amend the clean economy investment tax credit to more accurately cover the full costs of a geothermal facility.
If taken, these steps would support a re-invigorated Canadian industrial strategy, create a forum for continued strategic collaboration, and allow current commercial opportunities to better compete with more established technologies. This would ensure stronger near-term growth while setting a foundation for future leadership in a globally competitive industry poised for major growth.
