January 22, 2007

Canada Maps Out 3 Parts of $1.5 Billion ecoEnergy Funding

Canada’s Prime Minister, Stephen Harper, has announced more than $1.5 billion in funding for its ecoENERGY Renewable Initiative to boost Canada’s renewable energy supplies. 

The first component of the initiative, ecoENERGY for Renewable Power, will invest $1.48 billion to boost Canada’s supply of clean electricity from renewable sources like wind, biomass, small hydro and ocean energy.  A ten-year incentive program will be established to fund eligible projects to be constructed over the next four years.

The second component, ecoENERGY for Renewable Heat, will provide more than $35 million incentives and industry support to increase the adoption of clean renewable thermal technologies for water and space heating in buildings such as solar air and hot water heating.  In addition, projects for residential solar heating technologies will be explored with partners such as utilities and community organizations. 

This investment will create up to 4000 megawatts of renewable energy and is expected to deliver greenhouse gas emissions reductions equivalent to taking one million cars off the road, as well as significant reductions in other air pollutants. 

The third component, ecoENERGY Efficiency Initiative, encourages Canadian homeowners, businesses and industry, and the building/renovations sector to conserve energy.
 
The ecoENERGY Efficiency Initiative has three components:

• A $220-million ecoENERGY Retrofit program will offer homeowners, along with smaller businesses and organizations, support and information to retrofit their homes, buildings and industrial processes.
• A $60-million ecoENERGY for Buildings and Houses will encourage construction and retrofitting of more energy-efficient buildings and houses. 
• A $20-million ecoENERGY for Industry program aims to accelerate energy-saving investments and the exchange of best practices information within Canada’s industrial sector.

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