Are you an oil or gas producer looking to reduce greenhouse gas emissions for your own company? The Small Producers Energy Efficiency Development program (SPEED) is the right place to look. Under the $55 million Energy Savings for Business (ESB) suite of funding, $12 million has been committed to the new SPEED stream for oil and gas operators. The SPEED program looks to support producers in decreasing their greenhouse gas (GHG) emissions operating costs, helping them become more competitive and boosting economic recovery.
Type of Funding Available
With $12 million available under SPEED, eligible organizations have access to incentives up to $1 million per project. The minimum request per project is $10,000. 50% of total expenses (25% for lighting systems) can be covered. The funding reservations are created and are paid upon completion. The projects must be located at facilities within Alberta to qualify. Applications are accepted based on the supporting documents provided for the project and not on a first-come basis.
- Must consist only of installing eligible activities at an eligible facility
- Participant can not have received SPEED or ESB Program for eligible activities included in the project
- Must be requesting a value of $10,000 or more
Expanding the access for oil and gas producers, SPEED is adding new incentives for measure categories on-top of the already existing 60 technologies (listed in section 3.4 for SPEED Guidelines) commercially available, offered through Energy Savings for Business:
- Air Fuel Ratio (AFR) Controllers
- Engine upgrade
- New engine replacement
- Pump Jack Electrification
- Pump off controller
The already existent technologies being:
- Compressed air
- Process heating
- Geothermal heat pump systems
- Food service
- Lighting controls
- Motors and drives
- Water heating
- Combined heat and power (CHP) systems
- Lighting systems
- Building envelope and windows
- Solar air heating
- Food service
- Agricultural lighting
- Waste heat recovery (Organic Rankine Cycle)
Facilities regulated under the Technology Innovations and Emission Reduction (TIER) gain increased participation through the funding provided by SPEED.
There are certain guidelines for both the participant and the facility to qualify for SPEED funding.
- The participant must carry on a business (non-profits, co-operatives, sole proprietorships, partnerships, corporations, acting member on behalf of Indigenous community).
- The participant should be a privately owned entity, not a Public Authority
- The participant should be receiving 50% or less of its annual revenue from a Public Authority
- Your facility should be relevant to oil or gas and have a facility code with an Operational Status of Active (Petrinex or equivalent), you are eligible for the SPEED stream.
- The projects need to be occurring within Alberta
- Located facilities are operated, owned, or leased by the participant.
- The facility should have been in operation for over one year
- The facility should operate for the lifetime of the project
The deadline to apply for the SPEED stream is Monday, May 9th, 2022, at 5:00 p.m. Mountain Standard Time (UTC-7). As all applications submitted before the deadline are guaranteed a review, applicants should take their time and prioritize submitting a high-quality application. Successful projects can expect to be contacted in June 2022.
Contact EVAMAX today to get started on your application!