Project Incentives: Transmission
Accelerate your payback
Get up to 100% funding for your energy efficiency upgrade projects and reduce the return on your investment to as little as one year. Contact us to get started.
This initiative is for you if...
- Your facility uses more than one gigawatt-hour of electricity per year (that's about $50,000)
- Your project or group of projects will save at least 300 megawatt-hours per year.
- Your project is a hard-wired facility upgrade with an expected lifespan of five years or more.
- You will use a technology that has already been successfully implemented in B.C. and is measurable and verifiable.
- Your site has been operational for a minimum of six months prior to application.
What you get
The funding covers the total cost of your project, including design, equipment, installation, disposal and taxes.
- Projects costing $1 million or less – up to 100 per cent funding
- Project costing more than $1 million – up to 75 per cent funding
How it works
Your maximum incentive is calculated based on the amount of electricity that your project will save over its projected lifetime (to a maximum 10 year lifespan), at a base rate of $45/MWh.
To ensure cash flow, we will pay up to 90 per cent of the incentive during the implementation process, with the rest paid after verification of energy savings.
Note: You must receive pre-approval of your incentive application before purchasing equipment and/or commencing your project.
- End-Use Assessment
Uncover inefficiencies and opportunities to save money within a single system.
- Energy Efficiency Feasibility Study
Understand the options and associated costs of upgrading a system or whole plant.
- Sustainable Energy Management Programs
Get funding and support to develop an energy management program at your organization.
Let's say that you are planning a system upgrade that will cost $850,000 and save 3,000 MWh per year for 10 years.
Without any project incentives, this project would pay for itself in less than nine years.
The available incentive is calculated based on the projected electricity savings of the upgrade over its entire 10 year lifespan.
|$30.9/MWh** ×||3,000 MWh/yr ×||10 years =||$927,000 max.|
|(incentive rate)||(annual savings)||(lifespan)|
This is capped at 100 per cent of the project costs - in this case, $850,000.
With a project incentive of $850,000, the up-front capital costs and payback period will be completely eliminated. Of course, this project will also continue to save on energy costs for 10 years.
Final project costs
Total project savings
* Based on 3,000MWh per year for 10 years at a typical rate savings of $32.71/MWh. Rate is for example only and does not factor in taxes or net present value (NPV).
** The base incentive rate is $45/MWh. Factoring in the net present value (NPV) for a project with a 10 year persistence gives us a rate of $30.9/MWh.