The Island community announces a $3.5 million Community Renewable Energy Generation (CREG) Fund. Aimed at supporting local renewable energy projects, this fund invites applications from municipalities, Indigenous communities, and groups. The initiative seeks to promote sustainable growth, reduce greenhouse emissions, and foster energy efficiency on the Island.
In a progressive move towards sustainability, the Island community introduces the Community Renewable Energy Generation (CREG) Fund, earmarked at $3.5 million over three years. This fund marks a pivotal step in empowering localities, encouraging community-driven renewable energy projects across the Island.
Open to applications from various entities, including municipalities, Indigenous communities, and community groups, the CREG Fund aims to tap into grassroots ideas and initiatives. Minister Steven Myers emphasizes the significance of community involvement in addressing environmental concerns. He affirms, "Residents know what is needed in their own communities, and they want to do their part for the environment."
The CREG Fund builds upon the Sustainable Communities Initiative, focusing on advancing six to ten community-driven projects annually. Eligible projects span renewable energy generation such as biomass, wind, solar, and tidal/stream energy systems. Additionally, initiatives incorporating dual-fuel generators as standby power sources coupled with renewable energy installations are within the fund's scope.
Furthermore, the fund encourages identifying opportunities for enhancing energy efficiency at the community level or optimizing existing energy systems. Minister Myers highlights the broader impact, stating, "By creating sustainable communities, we can reduce our greenhouse gas emissions and build a more resilient province as we work towards our target of net-zero emissions by 2040."
The initiative aims to foster sustainable growth, reduce carbon footprints, and fortify the Island's resilience. It underscores the Island community's commitment to fostering local-level sustainability and energy efficiency.
The Island community's investment in the Community Renewable Energy Generation (CREG) Fund heralds a transformative phase towards sustainable energy practices. By empowering local initiatives and encouraging community-driven renewable energy projects, this initiative paves the way for a greener, more resilient future for the Island.