The and Union Gas will be increasingly enhanced

The province of Ontario is starting to take a strategic leap by promoting
environmentally friendly technologies in order to tackle global warming and secure a more effective and efficient economy. The
province has introduced The Green Investment Fund, which is a
not-for-profit provincial agency that was created in order to help reduce
energy costs in homes and businesses. (Ontario,
2016) Ontario is investing $325 million into this fund that will prove why
green technology has saved Ontario’s economy and has helped homeowners to
reduce their carbon footprint as well as save money, allow businesses to reduce
emissions, and fund local environmental
organizations. Green
technology is best understood as a way make to it easier for the province of Ontario
to fight climate change, boost and strengthen the economy as well as create
many jobs. All for a healthier, cleaner and low-carbon future (Ontario, 2016)

 

Green
Technology will allow homeowners to save money. This will happen because the existing
home energy audits and retrofit programs offered by Enbridge Gas Distribution
and Union Gas will be increasingly enhanced by the investment, allowing greenhouse
gas emissions to be cut, and about 37,000 homeowners across the province to
experience reduced energy bills. (Ontario, 2016) For example, homeowners can
start by replacing furnaces, water heaters, or even upgrading insulation. Home
energy efficiency retrofits save consumers a
lot more money on their energy bills and has been noted that. “Home renovations to increase energy
efficiency have been shown to save natural gas consumers $1.50 to $4 for every
dollar invested.” (News.Ontario.ca, 2016) Also, investing in a
residential solar energy system will benefit homeowners greatly. Using Solar
energy is considered Green technology because of its ability to generate power
without using any emissions. This mean that for every kilowatt installed, a home’s
carbon footprints are lowered by over 3,000 pounds annually and is reduced by
more than 15,000 pounds of CO2 every year. (ARE Solar, 2016)

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Green Technology will allow
many businesses to reduce emissions, making a great impact on the economy. The
government is investing two things, one being $74 million in a cleantech
innovation which will help to reduce greenhouse gas pollution by allowing large
industrial plants to utilize leading-edge technologies, and by partnering with Ontario Centers of
Excellence. (Ontario, 2016) The government is also investing $25 million in SMART Green
energy efficiency program. This program will help in reducing emissions and
becoming more energy efficient. It does this by selecting qualified small and medium sized businesses and granting them up to $200,000
to cover up to 50 per cent of eligible project costs in order to help the businesses invest in equipment and process upgrades. These
investments will increase Ontario’s economy and its development by helping
bring new jobs into existence, products, services, as well as much more technologies
and businesses. (Ontario,
2016)

 

Green Technology has helped fund
local environmental organizations. For
example, Ontario is investing $1 million from the Green Investment Fund into the
Sustainability CoLab Network, located in Kitchener. The organization helps
businesses- small and medium, reduce their impact environmentally along with
extending their competitive advantage and supporting for a more low-carbon
economy. (Ontario, 2016) It has been recorded that the CoLab Network program
members have collectively reduced 29,000 tones of greenhouse gases, which according
to the government that is, “…Equivalent of taking 6,100 cars off the road.”
(Ontario, 2016) This investment has allowed CoLab to get involved and fund other
local environmental organizations in order to help encourage other businesses
to introduce more energy-efficiency measures in their practices to create for
green technology to keep expanding in the economy.

 

 

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