BC Hydro has recently announced a promotional offer for Energy Efficiency Projects completing this Summer 2024.
To encourage energy conservation throughout the summer of 2024, a 50% bonus will be applied to all Custom Project Incentives and SIP (Self-Serve Incentives Program) projects that complete before August 30, 2024.
In order to receive the 50% bonus incentive, new applications should be received between March 1, 2024 and July 15, 2024 with a completion date on or before August 30, 2024.
Project requests will be processed on a first come, first served basis. Funding will be approved up to the limits of BC Hydro's annual budgets and contingent on passing BC Hydro cost tests.
The bonus will be applied to standard incentive amounts for energy efficiency projects.
Additional promotional offer details:
- Up to 50% bonus on top of original incentive funding offer,
- Removal of 1 year minimum payback rule as well as 75% cost cap
- Incentive caps of $1M for Distribution projects remain in place.
Eligibility:
- All Industrial and Large Commercial customers are eligible.
- Eligible projects include Energy Efficiency retrofit and New Equipment/New Plant Design projects receiving standard incentive amounts.
- Low Carbon Electrification and CleanBC are not eligible.
- Capacity/Demand response projects will receive the best available offer.
Depending on the type of business you run, traditional lighting can make up a large portion of your operating costs. Switching to LED will provide long-term savings both in terms of annual costs and energy expenditure.
Did you recently start a project prior to this announcement?
If you have already started a project and have been approved for a standard incentive, but have not yet purchased equipment, if you are able to complete the project on or before August 30th, you can request a new agreement and receive a 50% bonus. Reach out to our team for assistance on how to request a new agreement.
