Innovative Financing for Sustainable Energy Retrofits

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11 February, 2014

1:30 PM - 3:00 PM ET

Investing in building retrofits for greater energy efficiency has the potential to reduce housing costs and improve utilities consumption while supporting emissions reductions. Whether for individual homeowners or affordable housing providers, a diversity of financial tools and programs are required to make it viable to invest in retrofits that will provide long-term energy efficiency savings and returns.

We will be joined by two non-profit organizations that provide financial incentives for energy efficient upgrades in the residential sector. Toronto Atmospheric Fund will discuss their TowerWise Energy Savings Purchase Agreement program, a revolving loan fund approach to financing energy retrofits, in addition to their partnership with Toronto Community Housing. Efficiency Nova Scotia Corporationwill provide background on their interest-free financing program for home energy efficiency upgrades, along with a new pilot program that allows energy upgrade loans to be repaid through the property-tax bill (PACE).


Tim Stoate is the Vice President of Impact Investing with the Toronto Atmospheric Fund. Tim has thirty years of experience in impact investing and corporate finance consulting in the banking sector. Portfolios under his management have exceeded $200 million in committed funds and have included residential real estate, construction transactions, and commercial loans.

Toronto Atmospheric Fund (TAF) was established in 1991 by the City of Toronto with a mandate to reduce local greenhouse gas and air pollution emissions. To accelerate the uptake of energy efficiency in the high-rise residential market, Tim and his team have created an innovative new financing tool, an Energy Savings Performance Agreement, (“ESPA”). The ESPA transfers the risk of achieving energy efficiency results to TAF through an insurance arrangement that TAF is pioneering. In addition, through a partnership with Toronto Community Housing, TAF has provided support on a major appliance upgrade.

Amy Brown is a Program Manager with Efficiency Nova Scotia’s Residential Financing program. Amy is a Bachelor of Business Administration graduate with over five years’ experience in the financial services sector. Her work focuses on designing and implementing unique financing incentive options to assist homeowners overcome financial barriers often associated with making energy efficiency improvements.

Efficiency Nova Scotia Corporation (ENSC) is a non-profit organization with a mandate to help all Nova Scotians use energy better. ENSC provides expertise, guidance and financial incentives to assist households, businesses and large institutions like hospitals and universities improve their energy efficiency and reduce their energy costs. ENSC is also dedicated to raising awareness about the value of energy efficiency in our schools and communities, and to fostering the growth of Nova Scotia’s energy efficiency industry. Since 2008, energy efficiency programs have reduced Nova Scotia’s annual electricity load by 4.3 per cent – enough electricity to power more than 46,000 households. Thanks to this work, Nova Scotians are saving $52 million in electricity costs every year.

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