Equipment Replacement Incentives

Canadian small businesses are the fabric of our economy. At Econolease, although foodservice is our bread and butter(pun intended) we do go beyond financing restaurant projects. We are continuously trying to help find financial solutions for Canadian business owners – day in and day out. Whether it be through providing equipment lease financing, discounted merchant processing or immediate access to working capital, we strive to provide solutions for every situation.  

On a daily basis, clients always ask us for suggestions on ways to save money. “Are there any grants available to me? How should I allocate my financial resources? Are there ways I can reduce my expenses?”

A single Account Manager at Econolease typically touches over 300 projects a year. So, we are bound to get the scoop on the latest happenings in the industry. Any information we happen to come across we are always eager to share!  

If you are located in the Region of Peel, there is an equipment replacement incentive for restaurants you may be eligible for. The Equipment Replacement Incentive for Restaurants was created by the region of Peel to encourage water savings through equipment upgrades by offering incentives to small and medium-sized businesses. This program was developed as a way to supplement the Indoor Water Assessment Program that is provided to large industrial facilities.  Eligible businesses for the incentive program are any commercial or institutional customers in the Region of Peel that are in good standing with their water bill payments and sewer surcharge agreement. Businesses do not have to be specifically restaurants to be eligible.

Incentives are provided to businesses that make water-efficient changes to the following pieces of equipment:

Equipment

 

Est. Annual Savings

Est. Cost of Replacement

Incentive

Est. ROI

Water (L)

$

Walk in Fridge Freezer Condenser

915,000

2,100

$2,000 to $5,000

$1,000

2 years

Ice Machine

292,000

675

$3,000 to $4,000

$1,000

2-3 years

Toilet flush valve and bowl combination

268,000

620

$600

$100

1 year

Dipper Wells

746,000

1,700

$120

$60

< 1 year

Pre-Rinse Spray Valves

26,000

60

$100

$25

1.2 year

The application process is easy:

  1. Complete and submit the online application form at http://www.peelregion.ca/watersmartpeel/businesses/rebate-opportunities.htm
  2. Email copies of your receipts/invoices for the work completed
  3. Receive your rebate

For more information on the program feel free to contact:
Ryan Grzesiak
Region of Peel
[email protected]

This would be a great way to offset the cost of upgrading some equipment while saving on your water bills! If you’re not from Peel Region be sure to look out for similar programs in your area.

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