Buildings are the largest source of carbon emissions in the Greater Toronto and Hamilton Area, and energy costs are the single largest, controllable expense for most buildings. That’s why energy efficiency retrofits benefit building owners, residents, and the climate.
Retrofits are generally cash flow-positive, meaning that the savings generated pay for the investment over time. This makes it possible to tap into a variety of financing options, including those available from TAF and our partners.
Financing options range from bank loans and equipment leases from commercial lenders, to more specialized options like the City of Toronto’s Home Energy Loan Program (HELP) for homeowners and Hi-RIS program for multi-unit residential buildings.
Energy Savings Performance Agreement
TAF developed its Energy Savings Performance Agreement (ESPA™) to finance retrofits for multi-residential, institutional and commercial buildings. The approach does not draw on building owners’ capital or reserves. That’s because an ESPA™ is a service performance agreement, not a loan. TAF or our partner Efficiency Capital pays for the purchase and installation of a suite of energy and water efficiency equipment. The building owner shares the energy savings until the investment (plus a modest return) is repaid, usually over an eight- to 10-year-period.
TAF also demonstrates the technical and financial viability of deep energy efficiency retrofits through its Retrofit Accelerator program.
If you’re interested in undertaking a retrofit that goes beyond business as usual, we can assist with the planning, financing and implementation. Please contact Impact Investing Manager Nicole Leite at firstname.lastname@example.org to discuss your building’s potential to become a leader in energy efficiency.