The Ontario Power Authority (OPA) has launched a new energy-efficiency program to reduce electricity use and increase competitiveness for large industrial companies that are directly connected to the electricity transmission system.
The “Industrial Accelerator” is a 5-year program that provides financial incentives to speed up investment in electricity-saving projects. Participating companies will contractually commit to achieve specific conservation targets within a set period of time and to maintain them over the term of the contract.
The OPA says the Industrial Accelerator program is designed to deliver bottom-line results for participating companies, such as:
· Financial incentives that will cover up to 70% of eligible capital costs
· Energy-efficiency projects offering potential electricity cost savings as high as 30%
· Support for high-performance industrial installations that improve productivity and competitiveness
In addition, the OPA says the program could significantly reduce the demand on the electricity system, as well as help drive the development of green technology and jobs in the province.
“For Ontario to thrive, Ontario businesses must thrive,” said Brad Duguid, Minister of Energy and Infrastructure. “Partnering with our largest energy consumers to reduce their energy use will enhance their long-term competitiveness and is part of Ontario's transformation from being a leader in consumption to a leader in conservation.”
Ontario's industrial sector is made up of more than 20,000 small, medium and large companies that account for approximately one-third of all electricity use in Ontario. Within the sector, 45 large industrial companies directly connected to the transmission system are eligible to participate in the Industrial Accelerator program. These include companies in the pulp and paper, iron and steel, mining, auto assembly and parts, chemicals, petroleum refining, smelting and refining, and cement industries.
“With the launch of this program, eligible, large industrial electricity consumers in Ontario have access to financial resources to help them make significant energy-efficiency improvements,” said Colin Andersen, OPA CEO. “This program, in collaboration with Ontario's suite of energy-efficiency programs, will maintain long-term system reliability through tangible, cost-effective, energy-reduction measures.”
Applications for the Industrial Accelerator are being accepted now. For more information on the program, go to www.industrialaccelerator.ca.