The Federal Government has announced a new program funded by the Carbon Tax to help small business become more energy efficient.
The Climate Action Incentive Fund (CAIF) will provide refunds up to 25% of the cost of new energy-saving equipment. The maximum funding per applicant is $250,000. Small and medium-sized businesses with less than 500 employees (i.e. restaurant owners, farmers, small retailers) will be able to apply for rebates on new equipment including:
- Geothermal Heating and Cooling
- Natural Gas Furnaces
- High-Efficiency Boilers
- Heat Pumps
- Ductless Splits
- Solar Panel Installations
To be eligible, projects must be able to demonstrate energy cost savings and a reduction in greenhouse gas production. New construction projects are not eligible. To read the detailed applicant guide, click here.
In addition to the generous government refunds, businesses can also write off 100% of the project cost in the first year.
Applications must be submitted by October 17, 2019. It is estimated that approvals for projects will take 25 days. The Hayter Group will help you submit your application along with a quote for completing the project.
Total funding for this program is $72.4 million in Ontario. Call us and get your application going today!
Contact The Hayter Group today to find out what you can do to make your business more energy efficient and how that can add to your bottom line.
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