What financing options are available to pay for retrofits? | Video

CIET's Ask Us Anything series is a free monthly Q&A session with industry experts.

The Innovation in the EE Industry Ask Us Anything session featured a dynamic panel of speakers:

• Corey Diamond, Executive Director of Efficiency Canada
• Gabriella Kalapos, Executive Director of the Clean Air Partnership
• Mathieu Côte, Executive Director of CIET
• Mima Micic, Senior Advisor at the Ontario Energy Board

If you missed this Ask Us Anything, here is a key topic that was discussed during the session.

Question: What financing options are available to pay for retrofits?

Answer:

There is a federal government program called the Canada Greener Homes Loan program, which offers 0% interest loans for up to $40,000 in association with the Greener Homes Initiative. Some municipalities also have 0% interest loan programs that they deliver on their own.

I know I've participated in the City of Toronto one and it was refreshingly easy. So on the residential side there are options from the Federal Government and from the Municipal Governments.

On the commercial side, there's some really interesting innovation happening through the Canada Infrastructure Bank who is making partnerships with groups like SOFIAC to provide the type of financing and up-front support to help with things like engineering studies and things like that. There are some really interesting things, so check out Canada Infrastructure Bank and what might be available on a larger commercial and industrial buildings as well.

And then I know some private sector banks are really starting to figure this out and we're starting to work a little bit with Vancity and RBC who is thinking about exactyl how to mobilize their capital to support retrofits. I attended a big event where our RBC is starting to think of this too. So a number of them are also working on it as well. So stay tuned on that.

Want to learn more about financing energy efficiency projects?

Take a look at Energy Efficiency Financing Mechanisms. This is a one-day course that will teach you about the mechanisms and successes of EE financing, as well as their respective complexities and challenges. Learn more about this course.