EPA and NRCAN Sign new R&D Agreement
Many countries are committed to working towards more environmentally friendly options for our daily lives. With climate change advancing, a key initiative is the development of energy efficiency. If every building was more energy efficient, we would see massive progress towards our climate goals, and give Canadians more power to be a part of a clean and prosperous future.
The Minister of Natural Resources, The Honourable Seamus O-Regan Jr., has announced the signing of a new agreement between the U.S. Environmental Protection Agency (EPA) and the Natural Resources Canada (NRCan). The Cooperative Research and Development Agreement will help to continue Canadian enhancements and updates to ENERGY STAR Portfolio Manager – a free benchmarking platform used in commercial and institutional buildings.
ENERGY STAR is a widely used, industry standard tool used to deliver energy savings programs and sustainability initiatives. You can monitor energy use, greenhouse gas emissions, and water and waste consumption of a building and compare against similar buildings. At this point in time, over 26,000 commercial buildings are captured in the tool – which is equal to one-third of commercial space in Canada. In fact, the data is so effective that it’s used to inform decisions on upgrades, improvements, and add details to policy making.
This collaboration will enhance the tool and ensure it remains relevant for Canadian users with both updated Canadian metrics and French content. The EPA launched ENERGY STAR in 2000 and began collaboration with NRCan in 2011.
“Canada and the United States are doubling down on climate action. This agreement is another step we’re taking together toward a net-zero future.” said The Honourable Seamus O’Regan Jr.
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If you would like to find out more about how your business could benefit from R&D Tax Credit, contact a Swanson Reed R&D Tax Advisor today.