Business Competitiveness Energy efficiency strengthens operations and increases competitiveness for businesses and industrial facilities
Businesses and industrial facilities that invest in energy-efficient technologies reduce overall energy costs and operating expenses, allowing them to reinvest the savings. This strengthens their operations and increases their competitiveness.
Energy Efficiency Alberta works closely with many organizations and industries—including the oil and gas sector—to understand their unique needs and how we can best develop programs to help reduce energy use.
The Custom Energy Solutions program, for example, was created in consultation with industry specifically for those with high-energy needs. Components such as the Methane Emission Reduction initiative have a double benefit for industrial facilities as they decrease methane waste by identifying and repairing leaks and helping energy industry businesses get ready for future regulations.
Another feature of Custom Energy Solutions is education and support for 24 onsite energy managers to help identify and champion energy efficiency projects to directly improve facilities’ bottom lines. All six Strategic Energy Management groups have now been launched, involving more than 60 participants from a range of companies, including large final emitters. The two-year program provides tools, coaching, peer support and education to improve energy management and the bottom line.
Nearly 50 of Alberta’s largest employers in the province’s key industry sectors are benefiting from reduced energy use—including oil and gas companies, midstream operators, sawmills and forest products companies, manufacturers, healthcare facilities and hospitality businesses. The oil and gas sector has proven especially interested in energy efficiency initiatives with close to 60 projects from over 30 oil and gas companies participating in our programming. Together, these projects alone represent more than 400,000 tCO2e reductions.
Our unique financing programs can bolster benefits, helping improve access to private capital for a variety of projects that generate both economic and environmental returns. Financing programs also provide a wide range of benefits for municipalities, including economic development for local businesses, improved value of buildings and support for environmental goals such as reduced emissions.
Our Green Loan Guarantee program—a $400 million credit enhancement program—provides qualifying commercial and industrial projects a guarantee that allows a lender to recover up to 50 per cent of the principal on a loan that may go into default. This added assurance means that projects in need of financing are more likely to successfully move forward.
This mix of programs and services is helping make Alberta businesses become more competitive on a provincial, national and global scale.
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