Marine Renewables Canada Welcomes Federal National Electricity Strategy, Calls for Clean Electricity Investment Tax Credit Timeline Extension

Halifax (Nova Scotia), May 14, 2026 – Marine Renewables Canada (MRC) welcomes the federal government’s release of Powering Canada Strong: A National Strategy for an Electrified Canadian Economy – an important step toward building the modern electricity system Canada will need to remain competitive, affordable, and energy secure through 2050. The strategy reflects many of the core recommendations outlined in MRC’s Marine Renewable Energy Sector Vision 2050, including the need to double Canada’s electricity supply by 2050 through accelerated electrification, expanded transmission infrastructure, modernized regulation, stronger workforce capacity, investment in domestic supply chains, and greater regional cooperation. MRC is encouraged to see recognition of the need for coordinated federal-provincial-territorial action to support Canada’s long-term energy security, competitiveness, and clean energy transition. In particular, we welcome federal leadership in convening provinces and territories to advance renewable energy and transmission development, the recognition of integrated regional electricity systems as key enablers of renewable energy investment, and commitments to improve regulatory certainty and project approval timelines through a more coordinated “single-window” federal approach. We also welcome the prioritization of transmission projects within the Major Projects Office through the proposed Transmission InterConnect Investment Strategy, as well as the government’s intention to extend the Clean Electricity Investment Tax Credit (ITC) to certain major high-voltage intra-provincial transmission projects. It’s especially encouraging to see Nova Scotia’s proposed Wind West offshore wind development specifically identified by the federal government as a priority clean electricity project that will help power Canada’s future economy. While these advancements are positive, MRC is concerned that the strategy does not include an extension of the Clean Electricity ITCs to 2040 to align with offshore wind development timelines. Canada’s clean energy build out will span decades, and investment frameworks should reflect this long-term horizon. Given that offshore wind projects typically require seven to ten years to develop – with transmission infrastructure often requiring even longer timelines – many projects are unlikely to reach completion before the current 2035 ITC sunset date.

“Today’s announcement is an important foundation, but the work is far from finished,” said Elisa Obermann, Executive Director of Marine Renewables Canada. “Canada still needs long-term certainty around investment tax credits, accelerated regulatory and permitting reforms, expanded support for transmission infrastructure and energy storage, and clear implementation pathways that allow projects to move forward quickly and affordably. There is particular urgency around advancing transmission planning and development now, as these projects require long lead times and will be foundational to enabling offshore wind and broader clean electricity expansion across Canada.”

Achieving Canada’s long-term electricity, climate, and energy security goals will require an “all-of-the-above” approach that leverages the country’s full range of renewable and non-emitting energy resources, including offshore wind, tidal, wave, and river current energy.

“Canada’s marine renewable energy resources represent a major strategic opportunity for economic growth, grid reliability, and long-term energy security,” said Obermann. “As governments plan majorelectricity infrastructure expansion, it is important to consider the full value these technologies provide- not only levelized cost of electricity, but also regional economic benefits, energy diversity, transmission optimization, industrial development, Indigenous partnerships, and long-term resilience.”

Marine renewable energy can also help reduce diesel dependence in remote, northern, and Indigenous communities that continue to rely heavily on imported fuels for electricity generation. Targeted support for community-led renewable energy, storage, and grid modernization projects would improve energy affordability and reliability, strengthen local energy sovereignty, reduce emissions, and support long-term economic development in these regions. As governments work to implement the strategy, MRC encourages continued collaboration with industry, Indigenous partners, utilities, and provinces and territories to accelerate project development, strengthen domestic supply chains, support workforce readiness, and unlock investment in Canada’s clean energy future.  More Information   

Federal government news release: Prime Minister Carney announces forthcoming National Electricity Strategy

Powering Canada Strong: A National Strategy for an Electrified Canadian Economy

An Integral Part of Canada’s Clean Energy Future: Marine Renewable Energy Sector Vision 2050

About Marine Renewables Canada (MRC)    MRC is the national association for tidal, offshore wind, wave and river current energy, representing technology and project developers, suppliers, utilities, Indigenous organizations, researchers, and communities. We strive to champion Canada’s growing marine renewable energy sector through advocacy, engagement, and education and expand market opportunities across the country and globally. Learn more at  www.marinerenewables.ca.          -30-      For media inquiries, please contact:      Anastasia Smolentseva      Senior Director, Communications       Marine Renewables Canada      anastasia@marinerenewables.ca    