In 2022, the Low Carbon Economy Challenge (LCEC) is committing over $200 million to greenhouse gas (GHG) emission reduction projects through its Champions Stream. Expressions of Interest (EOIs) are currently being accepted for the Challenge’s second intake.
“Since launching this program, we have seen an incredible response from communities that want to cut their pollution and be more energy efficient. The Low Carbon Economy Fund is helping communities across Canada to step up with projects that are significantly reducing greenhouse gases at a local level. Every one of these projects gets us closer to reaching our national emission reduction goals while contributing to a healthy, sustainable Canadian economy.”-The Honourable Steven Guilbeault, Minister of Environment and Climate Change
As part of its GHG commitment, Canada aims to reduce its emissions by 40% to 45% below 2005 levels by 2030, with the end goal of a net-zero economy by 2050. Therefore, programs such as the LCEC’s Champion Stream have been implemented to achieve these goals.
The Low Carbon Economy Challenge’s Champion Stream is offering a variety of funding amounts based on the scope of Expressions of Interest. An applicant for this stream may apply for funding ranging from $1 million to $25 million. Funding must be used for eligible project activities. Funding will be provided in the form of cost sharing, which may range from 25% to 75% of total costs.
In terms of maximum cost-sharing amounts, the following allotments may be expected for these specific recipients:
- For-profit private sector businesses: Up to 25% in support from cost sharing,
- Regional/local/municipal governments: Up to 40% in support from cost sharing,
- Not-for-profit organizations: Up to 40% in support from cost sharing,
- Provincial governments/bodies/boards: Up to 50% in support from cost sharing,
- Territorial governments/bodies/boards: Up to 75% in support from cost sharing, and
- Indigenous communities and organizations: Up to 75% in support from cost sharing.
To learn more about funding allotments from this initiative, visit the LCEC’s program page.
The Low Carbon Economy Challenge’s Champion Stream is very lenient with its Expression of Interest criteria, with the intent of promoting an opportunity for innovation from a wide range of organizations. To be eligible for this program, applicants must be one of the following:
- A provincial government, including a provincial body or board;
- A territorial government, including a territory body or board;
- A regional, local, or municipal government;
- A First Nations, Métis, or Inuit government, community, or organization;
- A public sector organization;
- A not-for-profit organization; or
- A small, medium, or large business in the private sector.
To learn more about the eligibility criteria for the Low Carbon Economy Fund’s Champion Stream, visit the LCEC program page.
Expression of Interest submissions may be eligible if it is estimated that the proposed project will result in greenhouse gas (GHG) emissions reductions over the project’s lifetime and by 2030. The project’s reductions in GHG emissions should also achieve the following:
- Reduce emission sources that are monitored and influenced by the applicant or project partner and/or to grid electricity emissions;
- Reduce emissions beyond what existing regulations require of organizations, via standards or codes; and
- Reduce immediately identifiable GHG emissions as a direct result of project implementation.
Successful project applications should also meet the additional criteria below:
- There should be production capacity to make the technology commercially available,
- The location of the project should be secured and confirmed, and
- Any electricity or fuel that is produced should be used only by the producer.
The LCEC program is currently accepting Expression of Interest submissions for their Champion’s Stream. EOIs are being accepted until March 25, 2022 at 8pm ET; however, applicants may benefit from submitting their EOIs promptly.
Discover More Funding Programs for Cleantech
Is your organization interested in learning more about government funding opportunities for cleantech projects? You’re in luck! There are many more opportunities available for Canadian companies. To learn more, visit our government funding directory for cleantech programs.
Mentor Works offers a variety of events and webinars that highlight top government funding opportunities for Canadian businesses and provide insight into how funding may be leveraged to de-risk projects by supplementing costs. Register for a Mentor Works government funding webinar to get started today.