Energy Retrofit Loans
No fixed amount
Rebate
Description:
Through the Energy Retrofit Loan (ERL) program, the City offers fixed, long-term, low-interest financing to enable building owners to invest in low-carbon, energy-efficient capital improvements.
Comments on Funding:
Continuous Intake
Eligibility:
Applicants must be Developer or property owner of buildings, including:
1. Commercial, retail and industrial
2. Multi-family residential
3. Condominium (common areas only, not individual units)
4. Social housing
5. Hospitals and long-term care
6. Schools, colleges and universities
7. Not-for-profit
8. Hospitality
Application Steps:
Applicants must:
1. Enroll in the City’s Navigation and Support Services Program
a. Complete the Navigation & Support Services Application PDF to the best of your ability and email it to bbp@toronto.ca. City staff will contact you to inform you of next steps.
2. Eligible applicants will be invited to complete a detailed application to verify the project energy and carbon savings and create a business case.
3. City staff will review your application and develop a business case to determine funding eligibility.
4. Once your detailed application is approved, the City will create a Funding Agreement that sets out the terms of the agreement between the building owner(s) and the City of Toronto. The Agreement must be signed by both parties.
The interest rate specified in the Agreement will be valid for a period of 60 days, after which the rate will be updated to reflect the City’s current cost of borrowing.
Sample agreements can be made available for relevant projects
5. Funds will be disbursed to the building owner, as outlined in the Funding Agreement.
Documentation Needed:
Applicants must submit:
1. Two years of audited financial statements
Detailed project summary:
a. Description of existing facility (ASHRAE Level 2 or equivalent)
b. Detailed project budget
c. Project management plan
2. Feasibility study:
a. Developed by a qualified third party, such as a Professional Engineer (P.Eng), Certified Energy Manager (CEM) or equivalent.
b. Description of each proposed individual retrofit measure(s
i. Equipment details (manufacturer and model)
ii. Specification sheets (if available)
iii. Drawings
iv. Estimated energy savings
v. Estimated utility cost savings
vi. Estimated greenhouse gas (GHG) emissions reduction
c. Building decarbonization plan that demonstrates a minimum of 60 per cent GHG emissions reduction by 2040 using 12 months of recent continuous energy data as a baseline:
i. Outline retrofit measures, including associated GHG emission reductions and energy savings
ii. Measures shall include fuel switching and envelope improvements
iii. Include a timeline for implementation of retrofit measures
iv. Carbon offsets cannot be applied to meet the GHG emission reduction target
3. Other documents, as required.
Other Things to Note:
About the author
Maurice