After browsing through the manual, while the camera is able to take still photos, there does not seem to be a provision for connecting an intervalometer to the unit. Unless there is a provision in the remote browser softwre for it, which could likely be easy to add, I do not see how a time lapse clip could be automatically produced with this model.
I would suggest using one of Canon's DSLRs with an intervalometer and external software to do it. Some of the professional grade DSLRs, and newer releases, have the ability to produce high quality HD time lapse video clips built-in.
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