Commercial, Energy Efficiency, Industrial, Finance - November 4, 2020
Alberta companies to fund energy projects with government program
Small- and medium-sized commercial and industrial facilities in Alberta, Canada, will soon have the opportunity to take advantage of a $55 million fund from the government for energy efficiency upgrades.
The Government of Alberta announced the funding of the Emissions Reduction Alberta’s Energy Savings for Business program, which will leverage $30 million with public and private investment, including up to $25 million in funding from the federal Low Carbon Economy Leadership Fund.
“The energy efficiency industry in Alberta is primed and ready to get skilled technicians and tradespeople working quickly and safely,” Amy Roesler, Executive Director, Alberta Energy Efficiency Alliance, said in a statement. “We look forward to ERA’s Energy Savings for Business Program as Alberta’s next step in developing a sustained, market-driven and robust energy efficiency industry in the province. Energy efficiency boosts productivity, while reducing operating costs and emissions for small- and medium-scale industrial and commercial businesses. It’s a win-win-win.”
It is expected that this program will stimulate over $196 million in new investment. Business owners will be able to access the funding to cover portions of their cost-saving and emissions-reducing project costs and are eligible for up to $250,000 (CAD) per project and up to $500,000 per company.
Examples of projects and upgrades that would be eligible for the funding include things like updating facility operations to reduce energy use, upgrading HVAC systems or modernizing lighting and control systems.
The program begins in January 2021, when businesses can begin submitting their projects for pre-approval.