Entrepreneurs stand to benefit from energy support incentives
By John McPhaul
Around 1,000 entrepreneurs could benefit from incentives of around $25,000 as part of the Energy Support program announced Monday by Gov. Pedro Pierluisi Pierluisi.
The governor said the aid comes from American Rescue Plan Act funds with an initial allocation of $20 million. The program will function under a small-to-medium-enterprise (SME) model prioritizing services that are also provided by small and midsize companies.
The Department of Economic Development and Commerce’s (DDEC by its Spanish acronym) Public Energy Policy Program (PPPE) will receive requests from merchants who qualify to obtain the incentive, which will help stabilize the operation of their businesses, in addition to reducing costs and energy consumption in the long term, the governor said at a press conference.
Each application will be evaluated taking into account various criteria, such as the region where the trade is located, services provided, the economic sector it represents and the savings of the project.
“The Public Energy Policy Program is focused on turning the energy issue into one of economic development,” said DDEC Secretary Manuel Cidre Miranda.” At DDEC we help companies transition to cleaner and more efficient energy, at the same time that we lower costs and make the Puerto Rican company more competitive. Through the Energy Support incentive, we seek to achieve this objective, financially assisting small and medium-sized businesses to invest in making their operation more efficient and profitable. An essential part of the design of this program is that we seek to prioritize medium and small suppliers, and that is why we have categorized it as ‘Pyme to Pyme’, since we look for mainly small and medium-sized companies to benefit.”
PPPE Director Francisco Berríos Portela added that “this incentive has the objective of reducing costs and providing energy continuity through the integration of renewable energy systems, energy efficiency improvements and infrastructure for electric vehicles to companies qualified as SMEs.”
“This and other available incentive programs, such as the HVAC program, are of great help to the sectors that need it most,” he said. “We are making sure they are functional and tailored to the needs of consumers.”
The program guides will be published on Monday, Oct. 11 on the DDEC website, and registration will begin on Oct. 18.