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Supporting businesses on the path to a low-carbon economy
As organizations set out to achieve their ESG targets over the coming years, savvy business leaders are taking the opportunity to explore low-carbon, renewable fuel sources and investigate ways in which they can switch to clean energy from fossil fuels.
Due to its rich natural resources and conducive policy environment, British Columbia is leading the way in electrification. BC Hydro—British Columbia’s energy utility—is offering expert advice, funding and incentives for businesses in energy-intensive sectors that are interested in reducing Scope 2 emissions with hydroelectricity.
Broadly speaking, electrification refers to the process of replacing technologies that are powered by fossil fuels with alternatives that use electricity. More specifically, low-carbon electrification in the large commercial and industrial sectors involves switching from fossil fuels to clean electricity at existing facilities and using electricity in new facilities instead of fossil fuels. Fuel switching opportunities include compressors in the natural gas sector, diesel engines in mining and forestry, and process heat in the forest products industry.
By choosing clean energy to power their operations, businesses can greatly reduce their emissions and play their part in helping to reduce industry’s carbon footprint.
BC Hydro aims to reduce greenhouse gas emissions in the province by 900,000 tonnes per year by 2026 and is supporting businesses to electrify their operations in BC with a range of funding and incentives.
98% of the electricity generated in British Columbia comes from renewable sources | BC Hydro, 2021.
British Columbia has an advantage when it comes to electrification. The province’s rich natural resources and abundant freshwater assets allow BC Hydro to generate and deliver clean, reliable power at one of the lowest rates in North America, keeping costs low for businesses.
As a result, organizations with strong ESG commitments are gravitating towards the province to take advantage of the myriad of benefits that British Columbia and BC Hydro have to offer. By growing electrification in the province, BC Hydro is fostering innovation and diversification of BC’s industrial hydroelectric load.
With a robust transportation and telecommunications infrastructure, available capacity (at some locations) and a selection of available industrial sites, BC is an attractive proposition for both new and existing businesses looking to choose clean power over fossil fuels.
BC Hydro supports businesses in electrifying their operations in the province, offering advice, guidance and incentives to help meet and exceed their ESG commitments. Businesses may be able to take advantage of purpose-built incentives that reduce the cost to connect to its integrated grid.
To support businesses on their electrification journey, BC Hydro is offering a dedicated pool of CAD$120 million in funding available through 2026. Funding is available for industrial fuel switching projects in BC, including but not limited to district energy, transportation, buildings and industrial fleet conversions. For instance, the funding to Copper Mountain Mining supported their haul truck trolley assist project, which enabled hybrid mining trucks to be powered by electricity instead of diesel for a portion of their operation. Meanwhile, Barkerville Gold Mine will use funding to build a fully electric underground mine and processing plant.
Electrification funding is also available to help reduce setup and project costs for innovative businesses, including those in the clean tech and high-tech sectors interested in establishing operations in the province.
Siting is among the most important considerations when locating a new operation. To help customers get established, BC Hydro offers support to connect businesses looking for a suitable base of operations in the province to property owners. BC Hydro is continually updating its registry of industrial properties available for new energy-intensive operations.
To find or register an available site, visit choose.bchydro.com/find-industrial-site/register-industrial-site
Businesses must reduce their reliance on fossil fuels to power buildings, transportation and industry. BC is fortunate to have access to a crucial part of the solution: water.
By supporting businesses in electrifying their operations, BC Hydro is laying the groundwork for a cleaner, more sustainable economy in British Columbia for generations to come—a future powered by clean electricity.
For more information about rates, incentives and available sites, scan the QR code and visit choose.bchydro.com or contact BC Hydro at bizdev@bchydro.com.
Learn more at choose.bchydro.com
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