A residential and commercial energy efficiency financing program for Revelstoke

The City of Revelstoke will study the feasibility of a residential and commercial energy efficiency financing program. Housing affordability was identified as a key consideration for the program, given the unique challenges faced by resort municipalities in balancing the benefits of increased tourism with the need to accommodate affordable housing for long-term residents. About 70& of Revelstoke’s housing stock was built before 1980. An efficiency financing program could reduce the utility burden on homeowners in the region. At the community level, residential buildings account for 11.3% of the city’s greenhouse gas emissions and 25.9% of its energy usage. Encouraging residential energy retrofits could have a high impact on the city’s climate and energy-reduction goals. The feasibility study will include a review of financing program options (PACE and third-party lending), analysis of existing stackable programs (rebates, utility incentives, etc.), consultation with key stakeholders (homeowners, local building industry, other municipalities, etc.), and a final recommendation for a financing program that aligns with the city’s priorities. The proposed study is in line with the BC Climate Action Charter signed by the City of Revelstoke, as well as the city’s Community Energy and Emissions Plan and Housing Strategy. Innovative aspect(s): The scope of the proposed program includes innovative climate adaptation measures including resistance to high snow loads Replicability: · Revelstoke plans to reach out to similar sized municipalities to encourage replication in other municipalities · The project team will create a public summary of the lessons learned from each phase of the stud (Project description from original funding application)