When it comes to renewable energy, there’s no doubt that this is one of the fastest growing energy markets currently in the world. And with good reason – our non-renewable resources are running out, while with renewable energy, we will always have the sources of the energy, whether it be the sun, the wind, etc.

According to European Renewable Energy Council (EREC) and Greenpeace, if we continue on the path that we are currently on, by 2030 30% of the world’s energy could be supplied by renewable energy; by 2010, renewable energy could reduce carbon dioxide emissions from the Canadian energy sector to 45% below what it was in 1990.

Another report, Renewable Energy Network for 21st Century, says that by 2050, 85% of Canada’s electricity could be supplied by renewable energy.

It’s obvious to see why this is an industry is growing as quickly as it is.

While it is one of the fastest growing industries, there is still a lot of research and development that needs to be done to ensure we are harnessing this energy, holding and distributing this energy in the most efficient manner. Whenever research and development is being done to improve a sector, you have to start wondering about funding for that sector – and the SRED program is a great avenue of funding for companies who are working with renewable energy and clean technology.

So where are some areas that companies in clean technology and renewable energy sectors may find SR&ED-eligible activities? Any of these could potentially qualify:

  • If components or processes have been redeveloped in a renewable energy product.
  • If changes have been made to technology so that non-toxic materials are used.
  • If experimentation with different materials, voltaic films, inverters, and other components has been done to increase energy efficiency.
  • If products, applications or projects are being tested in variable weather conditions.
  • If components have been designed or manufactured for the solar, wind, geothermal or biomass energy sectors.
  • If work has been done for the development or alternative fuels.
  • If changes have been made to processes to reduce hazardous waste or water consumption.
  • If changes have been made to materials and processes to reduce greenhouse gases.

If you do any of these activities, contact the SR&ED experts at NorthBridge to see if you qualify for the SR&ED program.

[ Find out more about SR&ED in the renewable energy sector industry ]