Current tax incentives for business owners
Class 43.2 accelerated capital cost appreciation
Solar PV projects are eligible to qualify for a Federal Accelerated Capital Cost Allowance tax incentive under Class 43.2 of Schedule II to the Income Tax Regulations for specified clean energy generation equipment, which allows for an accelerated write-off of up to 50% per year of depreciation on solar photovoltaic equipment purchased after February 23, 2005. The deduction cost of the depreciation rate only applies to projects over three kilowatts. Ongoing operation and maintenance costs are also allowable deductions.