BC invests in PSE projects designed to create energy savings

July 25, 2014

BC has announced $3.8 M in funding to provincial PSE institutions for capital projects dedicated to reducing energy costs, demonstrating clean technology, and lowering carbon emissions as part of the expanded Carbon Neutral Capital Program. With institutional and non-government funding, total expenditure for the 18 participating institutions is currently at $5.5 M. The Carbon Neutral Capital Program was expanded in March 2014 to include the PSE and health sectors along with public elementary and secondary schools; the provincial budget for the program is set at $14.5 M annually. According to a BC news release, the actual savings in energy costs of the approved PSE capital projects is estimated to be $433,033 per year, representing an additional savings of $151,471 in labour and operational costs. Environment Minister Mary Polak noted that the expanded program will “ensure [PSE institutions] are able to finance energy-reduction projects and, at the same time, dedicate subsequent savings from energy costs to improve public services.” BC News Release