Toronto Hydro is currently offering a new demand management and conservation program to encourage GTA business owners to reduce their operational energy consumption. The saveONenergy initiative is one of the many Ontario Government Funding Programs that look to encourage ‘Eco-Friendly’ behaviour by industry consumers. Many businesses are currently undertaking these energy reduction measures to prepare themselves for the implementation of the SmartGrid Energy Distribution System in Ontario.
Ontario Government Funding Incentives for Retrofits
The saveONenergy initiative offers government funding incentives for businesses to retrofit any inefficient lighting and equipment with an energy efficient alternative. These incentives apply to any commercial, institutional, and agricultural facilities that currently receive their electricity from Toronto Hydro. The amount of the Government business incentives received depends upon the type of equipment introduced and the overall annual energy savings. Those who decide to retrofit their lighting fixtures can receive $400 per kW of demand reduction OR $0.05 per kWh in first year electricity savings. Businesses that look to retrofit their facilities’ equipment (A/C, Ventilation etc.) can receive $800 per kW of demand reduction OR $0.10 per kWh in first year electricity savings. The government funding incentives for retrofitting can cover up to 50% of the project costs. Businesses will also experience dramatic savings to their annual operating costs and carbon footprint. Interested parties can learn more about this incentive by contacting a Program Coordinator.
More Canadian Business Grants for Green Technologies
Businesses that are interested in receiving Ontario business funding for the development or adoption of sustainable technologies can contact one of our Small Business Funding Consultants for additional application support. Individuals can also receive information regarding the currently available Small Business Funding Grants for Green Technologies by following us on Twitter and Joining Our Circle on Google+.