Big news! A new federal program was launched yesterday that will help small to medium sized businesses (SMEs) (corporations that have less than 500 employees) in provinces that do not meet the federal standard for carbon pricing.
The proposed funding is for 25% of the system cost up to $250k for energy efficient retrofits. Funding amounts for this round are $72.4M in Ontario, $3.7M in NB, $9.3M in Manitoba, and $21.3M in Sask. We also note that this is *in addition* to the previously announced ability for customers to write off 100% of the capital cost in year 1 against federal taxes.
This initial round of funding which will close in mid-October (or until the funding is allocated) may be an annual program since the feds are looking at a total of around $1.5B of support over the coming 5 years - assuming there is no change in goverment of course.
Our recommendation is obviously to get applications in ASAP - early next week at the latest. Since this funding applies to a wide swathe of technologies, we expect the pipe to fill up quickly. Please contact us for solar equipment pricing over the coming days and we will turn around budgetary numbers quickly!
Application Tool: https://www.canada.ca/en/environment-climate-change/services/environmental-funding/programs/application-instructions.html