Incentive Program Helps Companies Afford Energy Managers
In the face of significant increases in energy costs in provinces like Ontario, more companies than ever are deciding to hire energy managers, and a new energy manager incentive is helping eligible firms save money, writes Canadian Manufacturing.
Under the Industrial Accelerator Program (IAP), companies connected to the IESO transmission grid who hire a full-time energy manager could initially receive $50,000, with further incentives of up to $200,000. Each energy manager is required to provide documentation of savings. The term of the contract is a minimum of two years, renewable up to a maximum of five years. The article points out that energy managers often more than make up for their salary due to the energy savings they generate.
The IAP is designed to assist eligible transmission-connected companies to fast track capital investment in major energy conservation projects. It provides financial incentives to encourage investment in innovative process changes and equipment retrofits that reduce electricity consumption. The program was recently extended through 2020.
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