Fostering Innovation and Job Creation
Innovative Clean Energy Fund | Investment, Innovation & Job Creation
Imagine what it might have been like to get in on the ground floor of the home computer revolution 30 or 40 years ago. That’s the kind of opportunity we have today as we witness the beginnings of a new, global low-carbon economy.
British Columbia's increasing energy requirements and our ambitious greenhouse gas emission reduction and clean energy targets require greater investment and innovation in the area of alternative energy by both the public and private sector.
Innovative Clean Energy Fund
To lead this effort, the Province has established the $25 million Innovative Clean Energy Fund to help promising clean power technology projects succeed. The Innovative Clean Energy Fund (ICE) Fund will help make British Columbia a world leader in alternative energy and power technology. It will solve some of B.C.'s pressing energy challenges, protect our environment, help grow the economy, position the province as the place international customers turn to for key energy and environmental solutions, and assist B.C. based companies to showcase their products to world wide markets.
The Province is accepting proposals for pre-commercial, clean energy projects anywhere in B.C. in a third call for applications to the Innovative Clean Energy Fund.
The ICE Fund Showcase Call, named in recognition of the 2010 Winter Games opportunity to showcase British Columbia to the world, offers three intake dates so applicants can choose the closing date that works best for their project.
Investment, Innovation & Job Creation
The worldwide market for clean energy technologies will reach an estimated value of $1 trillion by 2030, and British Columbia is poised to take advantage of that growth potential.
The province is already investing in cutting-edge research into green technologies, as well as supporting green initiatives that reduce emissions and create jobs.
Click on the video player for a message from Honourable Ida Chong, Minister of Technology, Trade and Economic Development.
Investment
Already, the Province has made substantial investments in green projects and green technology, such as:
- A $25 million Bioenergy Network to encourage research and development in areas such as wood-waste cogeneration, biofuel production and wood pellet production.
- A $94.5 million endowment to create the Pacific Institute for Climate Solutions that brings together universities, government and the private sector to facilitate cutting-edge solutions.
- The $14 billion Provincial Transit Plan aims to double transit ridership.
- Forests for Tomorrow is a $161-million, four-year investment in reforestation.
- Over $3 million invested in hydrogen and fuel cell technology since 2002.
- An additional $20 million to help remote communities switch from diesel power to cleaner energy sources.
- $10 million to support eco-friendly pulp and paper initiatives, including developing new technology.
- $3 million to test the feasibility of new technology designed to capture the carbon emissions from oil and gas production and permanently sequester them underground.
Innovation
Did you know that B.C. ranks as one of the world’s leading centres for clean technology development and our advanced energy sector has over 250 companies developing or deploying energy technologies; or offering services to increase energy efficiency?
In fact, B.C.’s environmental technology industry is worth $1.9 billion and employs about 18,000 people.
For more information on B.C. sustainable technology sector, click here, or you can learn more about B.C.’s high-tech sector through the BC Technology Industries Association.
Job Creation
A study by the University of California Berkeley estimated that state could gain as many as 89,000 new jobs and realize an annual economic benefit of up to $74 billion by pursuing its climate action goals.
We can expect to see similar benefits here in B.C., as people seek efficiencies to help reduce costs, and businesses emerge to capture new opportunities in fields such as clean energy and energy-efficient technology.
In fact, some experts predict job growth in Canada’s environmental sector to be 24 per cent faster than regular job growth.
