As you may have seen already, the federal government has announced in cooperation with HRAI, a new energy efficiency and low carbon program designed for the commercial retrofit market. This program is being run through the Climate Action Incentive Fund (CAIF). The program is called the “Small and Medium Sized Enterprises Project Stream” and the link is provided at the bottom of this email.
Highlights of this program are that a qualifying business:
1) Must employ LESS THAN 500 employees.
2) Eligible businesses must have a building in need of retrofit that is in the provinces of either Saskatchewan, New Brunswick, Manitoba or Ontario.
3) Total pool of finding available is $1.45 Billion.
4) Funding applications are available as of July 17, 2019 and funding will be available on a first come first serve basis until the fund is exhausted of funds.
5) Funding amount will be up to 25% of eligible costs for energy efficiency retrofits and other projects to improve energy efficiency , reduce energy use and save money. maximum allowable per application is $250,000.00 per applicant per eligible province. The minimum funding per application is $20,000.00
The Government of Canada also implemented changes to accelerated capital costs that allow businesses to immediately write off the full cost of machinery and equipment used for the manufacturing and processing of goods or immediately write off the full cost of specified clean-energy equipment. Investments eligible for Climate Action Incentive Fund may also be eligible for the accelerated capital cost allowance.
Contact us to see what equipment we have available that may help you reach these rebate specifications.
Please see the link below to get more details on this new program.
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