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"Smart Power Fund" for Residential Buildings Now Open for Application

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"Smart Power Fund" for Residential Buildings Now Open for Application

26 Jun 2014

In its latest initiative to help the community reduce carbon emission and improve energy efficiency, HK Electric today launched the Smart Power Fund to subsidise, on a matching basis, owners of residential buildings wishing to carry out energy efficiency enhancement works. The Fund is now open for application till end 2018, with the first batch of successful applicants to be notified by end of this year.

The Fund was set up following the conclusion of the Mid Term Review on the Scheme of Control Agreement (SCA) between HK Electric and the Government last year. HK Electric will be injecting into the Fund the energy efficiency incentive to be earned for out-performing the stipulated targets set out in the SCA on a yearly basis. The sum is estimated to total around HK$25 million in five years till end 2018.

Owners' corporations, or their authorised property management companies or qualified service providers, of residential buildings or composite buildings with a substantial portion of residential use within HK Electric's service territory are eligible to apply. Subsidies will be granted on a 50/50 matching basis of the total expenditure for the works, up to a maximum of HK$200,000 per building per application and to be paid out as a reimbursement.

Works will include energy efficiency enhancement for lighting, air-conditioning, lifts, escalators and electrical installations in the common areas of these blocks. The project should start within 12 months and must be completed within 24 months after approval.

"HK Electric is committed to joining hands with the community to reduce the carbon footprint and educating the public on the smart use of energy," said Mr. Yee Tak-chow, General Manager (Corporate Development) of HK Electric.

"With the Fund now launched, we hope to help building owners, especially those of stand-alone buildings with poor conditions or those with limited financial resources to speed up the energy efficiency improvement works in their buildings," he added.

A vetting committee has been set up to evaluate all eligible applications based on their effectiveness in energy saving, their project schedule, feasibility and sustainability as well as a detailed budget. Priority will be given to single tower residential blocks and applications referred by District Councils, non-government organisations or green groups, and buildings audited under HK Electric's Energy Audit Programme.

However, buildings which have received subsidy under the Government's Buildings Energy Efficiency Funding Scheme (Energy Efficiency Projects) of the Environment and Conservation Fund shall not be eligible to apply.

The vetting committee comprises representatives from various sectors of the community and HK Electric, including the Immediate Past President of Hong Kong Association of Energy Engineers, Mr. Colin Chung Chi-Leong; Chairman of Planning, Works and Housing Committee of Eastern District Council, Mr. Alex Kong Chack-ho; Head of Advocacy and Education of Friends of the Earth (HK), Mr. Edwin Lau Che-feng; Chairman of Food, Environment, Hygiene and Works Committee of Central & Western District Council, Mr. Sidney Lee Chi-hang; Chairperson of Community Building Committee of Wan Chai District Council, Ms. Peggy Lee Pik-yee; Professor Dennis Leung Yiu-Cheong of Department of Mechanical Engineering, The University of Hong Kong, HK Electric's General Manager (Corporate Development), Mr. Yee Tak-chow and General Manager (Public Affairs), Ms. Mimi Yeung.

The Fund is now open for application until 31 December 2018 or until it is fully disbursed. Applications submitted before the quarterly deadlines on 31 March, 30 June, 30 September and 31 December will be processed with result announcement within three months after each deadline.

HK Electric will promote the Fund through District Councils and owners' corporations of target buildings, and provide assistance in submitting applications. For details of the Fund and application forms, please click here or via the enquiry hotline at 2887 3455.

HK Electric launches the Smart Power Fund, with the setting up of a vetting committee comprising representatives from various sectors and the Company.

HK Electric launches the Smart Power Fund, with the setting up of a vetting committee comprising representatives from various sectors and the Company.

General Manager (Corporate Development) of HK Electric, Mr. Yee Tak-chow (right) and one of the vetting committee members, Ms. Peggy Lee Pik-yee (middle), Chairperson of Community Building Committee of Wan Chai District Council, provide advice on possible energy efficiency enhancement works. HK Electric will continue to promote the Fund to District Councils and target buildings on Hong Kong Island.

General Manager (Corporate Development) of HK Electric, Mr. Yee Tak-chow (right) and one of the vetting committee members, Ms. Peggy Lee Pik-yee (middle), Chairperson of Community Building Committee of Wan Chai District Council, provide advice on possible energy efficiency enhancement works. HK Electric will continue to promote the Fund to District Councils and target buildings on Hong Kong Island.

The Fund will subsidise energy efficiency enhancement works for residential buildings, which may cover lighting, air-conditioning, lifts, escalators and electrical installation (e.g. water pump in photo) in the common area.

The Fund will subsidise energy efficiency enhancement works for residential buildings, which may cover lighting, air-conditioning, lifts, escalators and electrical installation (e.g. water pump in photo) in the common area.

The Smart Power Fund is now open for application till 2018, with the first batch of successful applicants to be announced by end of this year.

The Smart Power Fund is now open for application till 2018, with the first batch of successful applicants to be announced by end of this year.