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The Renewable Energy Initiative was being offered through the Agricultural Flexibility Fund, a cost-sharing agreement between the Government of Canada and the Province of Prince Edward Island. The Renewable Energy Initiative was an approximate $7 million dollar initiative that allowed Island farmers to pursue opportunities in renewable energy by providing financial assistance towards a farm energy audit and implementation of an on-farm renewable energy system(s). The purpose of the Renewable Energy Initiative is to demonstrate the potential for on-farm renewable energy to improve farm net income while enhancing environmental sustainability. Alternative energy sources would provide farmers with some energy independence while improving the agriculture sector's environmental footprint. Renewable energy is perceived as a major opportunity for farms on Prince Edward Island to reduce their input costs. This initiative is part of the overall effort to increase the competitiveness of the agriculture sector. There were three components to the program: On-Farm Energy Audit (a pre-requisite for Component 2) Implementation of Renewable Energy System(s) Post Energy Audit (compulsory for those that receive funding under Component 2)