c) Tax Credit for Solar Water Heaters: Where an individual, in a year of income commencing 1st January, 2011, purchases solar water heating equipment for household use, that individual shall be entitled to a tax credit of twenty-five per cent of the cost of the solar water heating equipment up to a maximum of ten thousand dollars (maximum tax credit of TT $2500.00)
Energy Service Companies (ESCOs) for the conduct of energy audits can be expected to play an increasingly important role, and T&T will be seeking to build local capacity in the conduct of energy audits and other energy services. Incentives currently being offered to encourage the conduct of energy audits in Trinidad and Tobago are as follows:
e) 75% Accelerated Depreciation- Where a certified ESCO has acquired plant and machinery for the purpose of conducting energy audits there shall be allowed an amount of seventy- five per cent of the cost incurred in the year of acquisition, and this amount shall be the only allowance on this expenditure for that year.
f) 150% Tax Allowance (Company that engages an ESCO)- Allowance of 150% of the expenditure incurred by a company that engages another company certified as an Energy Service Company by the Minister with responsibility for energy, for the:
Summary .-- I. Introduction .-- II. The background to energy efficiency .-- III. Energy consumption and intensity trends .-- IV. Energy efficiency trends in the power generation and energy sector .-- V. Energy efficiency trends in industry .-- VI. Energy efficiency trends in households .-- VII. Energy efficiency trends in transport .-- VIII. Energy efficiency trends in services .-- IX. Energy consumption in agriculture .-- X. Conclusion.
The Energy Efficiency through the Development of Low-carbon RAC Technologies project is seeking to develop low-carbon refrigeration and air conditioning technologies that reduce greenhouse gas emissions, as part of a wider partnership programme between the Government of Trinidad and Tobago and the UNDP, in support of the country''s international commitments to combat climate change.
The US$5.5m project, funded by the Global Environment Facility (GEF) - is one of several sustainable energy and environment programmes being managed by the UNDP on behalf of the Government, working closely with the Ministry of Planning and Development. The projects support national priorities in the energy, environment, and disaster risk reduction arena by strengthening environmental policy, regulatory, and institutional frameworks; developing energy-efficient technologies, practices, and public education; and supporting greater disaster-risk resilience.
Working with a diverse group of stakeholders, including public agencies, academia, and civil society organizations, the long-term goal of the GEF project, is to address the use of ozone-depleting substances within the refrigeration and air conditioning (RAC) sectors, both public and private, and to contribute to the stated national goal of a 15% reduction in greenhouse gas (GHG) emissions by 2030.
The project aims to address Trinidad and Tobago''s international commitments under the United Nations Framework Convention on Climate Changewhich is designed to address global warming by reducing carbon emissions.
The Global Environment Facility (GEF) was established on the eve of the 1992 Rio Earth Summit to help tackle our planet''s most pressing environmental problems. Since then, the GEF has provided close to $20.5 billion in grants and mobilized an additional $112 billion in co-financing for more than 4,800 projects in 170 countries.
The development of a green public procurement roadmap improves Trinidad and Tobago''s implementation of its National Cooling Policy and its thrust to go green in the RAC sector.
Minimum Energy Performance Standards (MEPS) developed which helps provide a roadmap for transitioning RAC standards from voluntary to compulsory whereby Trinidad and Tobago''s capacity is enhanced in regulating performance standards of the importation of RAC equipment which leads to improved environmental health and well-being of the general population, as well as an importation of climate-friendly RAC equipment in Trinidad and Tobago.
Component 2- Fiscal and economic instruments for imports of high energy efficiency rating RAC equipment developed and validated by stakeholder consultation which supports the market transition to low carbon RAC technologies:
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