7 Funding Mechanisms to Assist Energy Projects

Please Note: Many of the programs listed in this article have closed since the blog’s original posting. To explore Canadian government funding programs currently available, please browse our small business funding directory.

Operations managers of energy companies are constantly looking for ways to reduce costs and maximize operational efficiencies within their companies. The following seven energy-related government funding mechanisms can help tackle the investments required, so your company can achieve its goals and pave new paths to the future of renewable energy.

1. ecoEnergy for Renewable Heat – Natural Resources Canada

Receive financial support for developing renewable thermal energy by covering 25% of the purchase, installation and certain other costs with implementing a qualifying system.

2. ecoEnergy for Renewable Power – Natural Resources Canada

This funding mechanism supports projects that will increase Canada’s supply of clean electricity from a variety of renewable sources, including wind, biomass, low-impact hydro, geothermal, solar, and tidal energy. It covers $0.01 kW/hour for a maximum of 10 years.

3. Feed-in Tariff Program – Ontario Power Authority

This program offers guarantees on prices for various renewable energy sources, offering a 20-year contract to renewable energy projects to cover project costs and provide a satisfactory rate of return.

4. NextGen Biofuels Fund – Sustainable Development Technology Canada

Aimed at creating demonstration facilities to establish first-of-kind commercial scale renewable fuels and co-products. Support is available for up to 40% of project costs, up to $200 million.

5. NOHFC – Northern Energy Program

Are you looking for help covering the costs of energy retrofit or conservation projects? The conditional contributions of this program can help you achieve your energy saving goals.

6. Ontario Solar Thermal Heating Incentive (OSTHI) – Ontario Ministry of Energy

Specialized to help solar hot water systems and solar air heating systems, the OSTHI aims to increase the use of clean energy and increate Ontario’s solar thermal capacity.

7. Technology Development Fund – Ontario Power Authority

Developing a pre-commercial clean technology or application? This fund will support your research to improve electricity supply, conservation or demand management through financial support of up to $250,000.

Maximize Your Chance of Receiving Funding

If you are interested in any of the above funding mechanisms, Mentor Works can work closely with you to maximize your chance of achieving funding. Please contact us directly, including which initiative(s) you are most interested in, to get started today. And be sure to follow us on TwitterFacebook, and LinkedIn to stay informed of additional funding mechanisms to help grow your business and achieve your company’s goals.

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