This brief presents the Minister of Finance with recommendations for how the Ontario Government can achieve more impact – energy savings, carbon reduction, jobs – from the public funding provided for energy efficiency retrofits and engage capital markets in the transition to a low-carbon economy. The underlying challenge for public energy efficiency investments is that any incentives or grants can potentially crowd out private money. There is not enough public capital to support all cost-effective energy efficiency measures in Ontario, so it’s imperative to engage private capital providers. Public policy should be designed to ‘crowd in’ private investment. TAF’s policy brief explains how this can be done.