Puerto Rico’s small businesses may apply for ‘Apoyo Energético’ incentive
Starting today, Puerto Rico-based small and mid-sized businesses will be able to request an incentive for up to $25,000 to install green energy systems through the Department of Economic Development and Commerce’s (DDEC, in Spanish) Apoyo Energético website.
The registry closed on Dec. 10 with more than 70 SMEs signing up to provide services to beneficiaries.
This program was developed to help businesses stabilize their operations, as well as reduce costs and long-term energy consumption. The government has $20 million set aside for this, from the federal American Rescue Plan Act (ARPA).
The government’s Public Energy Policy Program has set a goal to grant the incentive to approximately 1,000 companies.
“Everything will depend on the requests we receive, which meet all the requirements and the cost of each project,” said program Director Francisco Berríos.
“Different eligibility and preference requirements are taken into account, which include the region where the business is located, the economic sector it represents, the energy savings of the project, income and the number of employees, among others,” said Berríos.
Public Energy Policy Program officials will evaluate each application, prior to granting the incentive, to ensure that they meet all the requirements, he said.
Berríos explained that, once the incentive is granted, the beneficiaries will have up 12 months to use it. The disbursement will be made directly to the business, after the work has been completed and certified.
In the event that the project cost is less than $25,000, the incentive will cover 100% of the cost and if it is greater, the business will cover the difference, paying directly to the selected provider.
“Apoyo Energético is part of the efforts made to transform energy toward a more reliable and resilient one, and advance the public policy established in Act No. 17 of 2019, promoting the use of renewable energy sources and energy efficiency,” said Berríos.
“We have to move quickly in the right direction toward the energy transition that our island and the planet are demanding of us,” said Berríos.