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 between 25% and 50% of the cost of new energy-saving equipment. Small and medium-sized businesses (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
The Minister plans to release details about the CAIF Rebate program in the next few weeks. It is expected that the rebate will be limited to a maximum amount of $20,000 per applicant, with no minimum amount per application.
Funding from the Carbon Tax is expected to reach $100 million per year in Ontario. In addition to these funds, small businesses can also claim accelerated depreciation on geothermal installations.
Call 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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