Industrial Energy Efficiency Program Launched for Ontario Businesses
April 21, 2022
The Save on Energy Industrial Energy Efficiency Program (IEEP), a part of the 2021-2024 Conservation and Demand Management Framework, is now available for large complex energy-efficiency projects. The program offers organizations up to $5 million in financial incentives for each project accepted in the program. Eligible projects will deliver electricity savings using proven commercial technologies to lower energy consumption and reduce electricity bills.
The IEEP will provide total funding of nearly $80 million to qualifying industrial participants over two competitive rounds of funding to be held in 2022 and 2023. In each round, participant applications will be ranked by the electricity savings their projects can achieve cost effectively, among other criteria. Program funding will be allocated to organizations with the highest-ranked projects.The IEEP will help reduce Ontario’s overall demand for electricity and is forecasted to generate 330 GWh of energy savings and 37.6 MW of peak demand savings by 2026. More information about the program can be found on the Save on Energy website.