Overview
NRCan is offering funding to support smart renewable energy and electrical grid modernization deployment projects. The Smart Renewables and Electrification Pathways Program (SREPs) provides up to $1.56 billion over eight years for smart renewable energy and electrical grid modernization projects. This includes an additional $600 million for the program announced in Budget 2022 (but not funding announced in Budget 2023).
This program will significantly reduce greenhouse gas emissions by encouraging the replacement of fossil-fuel-generated electricity with renewables that can provide essential grid services while supporting Canada’s equitable transition to an electrified economy.
Funding
SREPs provide up to a maximum of $25M to eligible renewable energy and grid modernization projects during the construction phase.
Eligibility
Projects eligible for funding are large-scale renewable energy projects capable of providing grid services, energy storage, or grid modernization projects. There are 3 main project streams:
- Established Renewables: Onshore wind, solar photovoltaic, small hydro, biomass (heat and/or electricity).
- Emerging Technologies: Offshore wind, geothermal (heat and/or electricity), concentrated solar power, energy storage, renewable community heating, water current, tidal or wave, and retrofits to enable grid services on existing renewable energy or energy storage plants.
- Grid Modernization: Advanced Distribution Management System, data management and communication, demand management, Distributed Energy Resource Management System, energy storage (owned and operated by a utility), electricity market reform, electric vehicle (EV) integration, grid monitoring and automation, microgrid, software or hardware to enable aggregating Distributed Energy Resources (DER), and utility system software and hardware upgrades.
Additional information about the Smart Renewables and Electrification Pathways Program
Overview
NRCan is offering funding to support smart renewable energy and electrical grid modernization
Project Criteria
To be eligible for funding, projects must contribute to several mandatory outcomes, including decreasing greenhouse gas emissions from Canada’s electricity system, generating economic and social benefits, increasing renewable energy capacity or grid accommodation, and supporting grid modernization and decarbonization. Where applicable, the program encourages increasing Indigenous ownership of and benefits from renewable energy and grid modernization projects.
Project Criteria
To be eligible for funding, projects must contribute to several mandatory outcomes, including decreasing greenhouse gas emissions from Canada’s electricity system, generating economic and social benefits, increasing renewable energy capacity or grid accommodation, and supporting grid modernization and decarbonization. Where applicable, the program encourages increasing Indigenous ownership of and benefits from renewable energy and grid modernization projects.
Eligible Recipients and Expenses
Eligible recipients include legal entities incorporated or registered in Canada, provincial, territorial, regional, and municipal governments and their departments and agencies, as well as Indigenous communities and organizations.
Eligible expenses for reimbursement include salaries, professional services, equipment expenditures, travel costs, taxes, and various other necessary expenses directly related to project implementation.
Application Process
Applicants need to submit a Project Registration Form, which will be reviewed by the program team to determine eligibility. Those meeting the criteria will be invited to submit a Technical and Financial Project Application, covering all mandatory criteria for funding approval.
Funding Limits
The maximum eligible funding depends on the program stream, with a cap of $25 million per project. Stacking limits are in place, restricting total Canadian government funding to 75% of Total Project Costs for for-profit organizations and allowing up to 100% funding for provincial, territorial, municipal governments, Indigenous recipients, and non-profit organizations.
Status
As of the current date, the program is fully allocated and not accepting new project applications. Further details on project eligibility, timeline, and budget allocations for the recapitalization in Budget 2023 are yet to be released.
For more information or inquiries about the program, you can visit the Natural Resource Canada’s Smart Renewables and Electrification Pathways Program dedicated page.
