As discussed in our previous blog post, Toronto is taking steps towards net-zero emissions in the city by 2040. To help owners and operators of existing buildings buy in to the TransformTO Net-Zero Strategy, the city is looking to take a series of actions to increase the amount of funding and financial support available along with simplifying funding channels and generating more capital from private investors.
There are currently several different programs, incentives, and loans for energy efficiency and green-technology upgrades/retrofits available such as those from Save on Energy, Natural Resources Canada, and the city itself, however depending on the building type and project involved it may be difficult to secure or even find the relevant support.
By partnering with key provincial, federal and private sources the city aims to simplify the support acquisition process while increasing program coverage to include more projects. Below are some of the tools the city is exploring:
The creation of a Green Investment Bank would allow existing funding to be pooled together with private investor funding to reduce risk to contributors while increasing the total funding available for projects. The bank can also act as a single channel to simplify applications for building owners and operators as opposed to several applications and programs for different parts of a single project.
Government assistance through long-term financing, lower interest rates, loan loss reserves and loan guarantees, and interest rate buydowns, etc. provide projects with low-cost or even no-cost ways to fund projects.
How We Can Help
Mann Energy Solutions is a professional consulting engineering company that specializes in energy management, including energy audits, mechanical/electrical engineering and implementation and has experience working with different government levels, utilities, and service providers. We are experts at helping clients realize the highest value for their retrofit investments, and selecting the right incentives for their projects.
Some of our services include:
Free site walk-through by our experienced engineers and technicians to provide an initial site assessment
Engineering feasibility studies
Incentive study and application
Engineering, Procurement and Construction (EPC) for a turnkey project
For more information or a complimentary assessment contact us through the main site, firstname.lastname@example.org, or call (416) 201 9109 x 158.