New federal incentives will help small- and medium-sized businesses take needed climate action and improve business bottom lines
August 1, 2019
Green Economy London helps local businesses navigate energy efficiency incentives.
London, ON – Small and medium business owners in Ontario have a tight timeline of opportunity to receive federal funding to improve the sustainability of operations and their bottom lines.
The Government of Canada’s newly launched Climate Action Incentive Fund: Small- and Medium-sized Enterprises Project stream, covers new sustainability projects undertaken by businesses with fewer than 500 employees. Eligible projects range from retrofitting a fleet of trucks to use biodiesel, to purchasing energy-efficient industrial equipment upgrades, to adding solar and insulation to an office building. There is $72.4 million is earmarked for Ontario.
“Combining a 25% incentive on equipment and the additional cost savings from energy reduction or from generating renewable energy makes now a very opportunistic time for businesses to become more energy efficient,” says Marianne Griffith, Hub Manager at Green Economy London.
Green Economy London is currently working with local businesses, including German Solar, Booch Organic Kombucha and others, to explore taking advantage of this energy efficiency incentive. Green Economy London currently supports twenty local businesses in London and surrounding areas by providing services and workshops to help businesses set and achieve their sustainability goals.
“German Solar Corporation has been following this initiative with interest. For any business who is considering a solar project now or in the future, this is an opportunity to seize the moment and utilize some of the millions of dollars that were raised from the carbon taxes in this province. This capital was meant to stimulate alternative energy technologies that reduce our environmental footprint. Renewable energy is one way to capture a portion of this grant.” said Dennis German from German Solar Corporation.
The Climate Action Incentive Fund will provide $20,000 – $250,000 to offset up to 25% of the cost of qualifying projects in Ontario, Saskatchewan, Manitoba, and New Brunswick. This first-come, first-served opportunity gives owners of small- and medium-sized businesses a unique chance to get paid to save money for their businesses while doing the right thing for our environment.
Applications for funding are open until October 15, 2019, or until funding is exhausted.
Eligible projects include:
- Switches to low emitting fuels in buildings, agriculture, industry, and transportation
- Building and vehicle retrofits that save energy by improving efficiency or reducing waste
- Improvements to the energy efficiency of industrial and agricultural processes
- Low emission fuel production or renewable energy production for own use
For businesses who want to take advantage of the opportunity to go green but don’t know how to get started, contact Marianne Griffith, Hub Manager, Green Economy London at 226-977-1139 or by email at email@example.com.
Green Economy London is one of seven non-profit Green Economy Hubs across Ontario that support businesses with reducing their greenhouse gas emissions while becoming more economically competitive. Hubs provide tools, guidance, and a network of businesses to learn from so that any organization can take action on climate change and seize the business benefits of going green.
For more information contact:
Marianne Griffith, Hub Manager, Green Economy London
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