With the recent federal budget there were several announcements for funding for renewable energy as part of the COVID economic recovery strategy. This, combined with the BC budget, kickstarts an exciting new chapter for sustainability in the Province.
In the federal budget there are allocations to Climate Action and a Green Economy. Among them:
- Funding for the Net Zero Accelerator, a program geared to help large industry decarbonize their projects and scale up clean technologies
- An investment tax credit for Carbon capture, utilization, and storage (CCUS) technologies. The goal is to reduce CO2 emissions by 15 megatonnes annually.
- Monies for interest free loans (up to $40,000) to enable homeowners to do deep home energy retro-fits. Eligible projects include replacing oil furnaces with high efficiency air source or geothermal heat pumps and adding on site renewable energy such as solar PV. There is also a dedicated stream of funding to support low-income homeowners and rental properties serving low-income renters, including cooperatives and not-for-profit owned housing.
In the 2021 BC Budget, the Provincial Government continued to support the CleanBC initiative, particularly cleaner vehicles. This includes rebates for purchasing zero emission vehicles through the Go Electric program, a PST exemption on electric bicycles, and funding to develop policy on reducing the carbon intensity of fuels and growing the hydrogen economy.
As an organization, the BCSEA strives to demonstrate that clean energy is a significant economic driver offering benefits to all British Columbians. We want to advance energy conservation and efficiency and accelerate zero emission options for low carbon passenger transportation. It is rewarding to see Federal and Provincial funding that touches on all these areas. But there is still lots of work to do.
The BCSEA continues to develop strategies around the Cool-It! Program, BCUC interventions, engaging policy makers and developing a blueprint to aid in the transition to a low carbon lifestyle. We invite you to visit the BCSEA website often for news and updates, share the information with others, participate in webinars, offer your expertise as a volunteer (with your local chapter and/or the provincial body) and become a member of the BCSEA today.