Today, efficiency and sustainability are essential. A guiding light for industrial establishments seeking to improve their energy efficiency is Natural Resources Canadaās Green Facilities and Manufacturing Program (GIFMP). Manufacturers may greatly benefit from this program in terms of lowering operational costs, minimizing greenhouse gas emissions, and maintaining competitiveness in a market that is always changing.
Understanding the GIFMP
The GIFMP is designed to support Canadian industriesā quest to become more energy-efficient and environmentally friendly. The program is divided into two main tracks:
- Energy Efficiency Solutions Track: This track focuses on provinces, territories, utilities, and other organizations that have built industrial networks. It provides financial assistance for energy efficiency measures that are in line with the objectives of the Canadian government. Funding can cover 100% of eligible implementation costs for some organizations and 75% for private sector for-profit organizations, with a maximum of $20 million per proposal.
- Industrial Facility Track: This track is available to all industrial sectors and facility sizes with an emphasis on regional, sectoral, and activity-specific deficiencies. It provides direct-to-industry support, covering up to half of qualified implementation costs. Proposals can receive up to $10 million in funding, with a minimum investment of $40,000 per project.
Benefits for Manufacturers
Financial Support: The programās generous financial support can greatly lower the initial cost required for energy efficiency initiatives. This includes the costs of energy assessments, audits, energy management training, and capital investments in energy-efficient technology.
Operational Savings: Implementing energy-efficient techniques can drastically cut both energy usage and operational costs. These savings can be reinvested into other business sectors, fostering additional growth and innovation.
Enhanced Competitiveness: Manufacturers can improve their market position by lowering production costs and increasing energy efficiency. Efficient operations also fit with global trends, which prefer low-carbon products, which then creates new market opportunities.
Environmental Impact: Participating in the GIFMP helps manufacturers minimize their carbon footprint, which contributes to national and global sustainability goals. This proactive approach to environmental stewardship may also benefit the companyās public image and stakeholder interactions.
Job Creation: The program encourages the creation of new jobs in energy management and sustainability, which helps to grow the industryās qualified workforce.
How to Apply
To apply for the Industrial Facility Track, manufacturers must submit a comprehensive proposal outlining their energy efficiency initiatives. The application process involves:
- Completion of Required Sections: Applicants must complete all required sections outlined in the programās guidelines, including a detailed project overview and expected outcomes.
- Submission Through Online Portal: Applications must be submitted through the GIFMP online application portal along with a filled-out Project Workbook.
- Evaluation and Approval: Proposals undergo a rigorous evaluation process. Successful applicants receive a Letter of Conditional Approval, which, upon successful due diligence, leads to preparing a contribution agreement detailing the terms and conditions for funding
.
The GIFMP represents a significant opportunity for industrial facilities to improve their energy efficiency, lower operational costs, and contribute to a more sustainable future. Manufacturers may boost their bottom line and contribute significantly to Canadaās transformation to a greener economy by taking advantage of this financing opportunity.
For more information and to start applying, visit Natural Resources Canadaās GIFMP page.
Edgecom Energy is a leading energy management solutions provider that enables industrial facilities to track facility data and grid analytics in real time and get AI insight on improving efficiency. Contact us today to learn more.
