CCA classes 43.1 and 43.2 of the regulations (the Regulations) under the Income Tax Act (the Act) provide enhanced CCA rates for various renewable asset properties. Certain assets of a qualifying wind energy conversion system or photovoltaic system (solar) that are included in class 43.1 will be entitled to an accelerated CCA rate of 30% per year. Such assets that are acquired after February 22, 2005 and before 2020 and that would otherwise be included in Class 43.1 are included in class 43.2, which have a CCA rate of 50%. Hence, all would now be 43.2 assets, which has a CCA rate of 50%.
Subject to certain exceptions, Class 43.1 includes fixed location photovoltaic equipment that is used for the purpose of generating electrical energy from solar energy consisting of solar cells or modules and related equipment including inverters, control, conditioning and battery storage equipment, support structures and transmission equipment.