Ontario sets aside nearly $100M for cleantech incentives, investments
Province to funnel Green Investment Funds toward energy efficiency incentives, cleantech innovation
TORONTO—The Ontario government is committing just short of $100 million to energy efficiency incentives and clean technology investments.
Making the announcement at Toronto’s Morgan Solar, Premier Kathleen Wynne said the funds will come from the province’s new $325 million Green Investment Fund and be funneled toward two separate initiatives.
“Our government is taking action to stop climate change by helping our business sector create prosperity and jobs for today and tomorrow,” she said. “Through these two new programs, we will help reduce greenhouse gas emissions, while promoting the innovative and disruptive technologies that will improve productivity and secure our economic future.”
The first program will invest $74 million toward helping large businesses adopt new energy efficiency technologies. The government said the program will help cut emissions while supporting Ontario’s cleantech startups. The province is partnering with the Ontario Centres of Excellence on the project.
As the main investment assists the province’s larger businesses, Ontario will also direct $25 million to the Green Smart energy efficiency program, which is designed to help small and medium-sized businesses reduce emissions and become more energy efficient. The Liberal government said the program will be delivered by Canadian Manufacturers & Exporters.