A residential energy efficiency financing program for Newfoundland and Labrador

The Newfoundland and Labrador Environmental Industry Association (NEIA), in partnership with the City of Saint John’s, will explore the design of a province-wide residential energy efficiency financing program with the province, Newfoundland Power, municipalities and other local stakeholders. The program aims to build on and learn from existing programs to stimulate implementation of residential energy efficiency measures as well as renewable energy and battery-based energy storage, and to support electric vehicle (EV) uptake. With high levels of ownership of older building stock, previous studies have identified significant opportunities for household-level energy savings and greenhouse gas emissions-reductions across Newfoundland and Labrador. 

The anticipated program will target a “one-stop shop” approach to reduce entry barriers and establish working relationships homeowners. It is expected that multiple intake streams will be developed based on income levels and other factors, including EV-specific support. The study will identify and evaluate financing models during the stakeholder engagement phase with the organizations identified as potential program financiers. This part of the study will be informed by a detailed legal review of PACE/LIC opportunities. 

Environmental benefits: 

· The upper intake scenario of the program over the long term is a reduction in energy consumption by 581,766 GJ/year and greenhouse gas emissions by 13,604 tCO2e 

· Enabling EV adoption paired with provincial plans for extending charging networks will target around 3,000 conversions 

Social and economic benefits: 

Participating homeowners are expected to see reduced energy costs from a combination of lower maintenance costs and improved energy efficiency. The program will increase the volume of work for local contractors and reduce their operating costs by removing the need for marketing and promotion. At full scale-up the program is expected to produce dividends for the province and municipalities. 

Innovative aspect(s): 

· The program will feature a collaborative, regional approach, leveraging extensive stakeholder engagement to reduce administrative costs and create consistency for contractors 

· The design study will use an equity lens throughout all stages by consulting with low- to moderate-income property owners and equity-seeking groups, ensuring that the new financing program is designed to be inclusive and accessible, which will advance the universal goal of clean and affordable energy for all property owners 

Replicability: 

· NEIA hosts an annual green economy conference each year where the progress and results from this work can be communicated to the public sector, private sector, institutional decision-makers and stakeholders 

· NEIA also has a broad network within Atlantic Canada that it can reach via webinars, workshops, etc. 

· Progress and results stemming from this project can also be presented at Municipalities Newfoundland and Labrador events, where municipal decision-makers and stakeholders can be engaged 

· The project partners can also share results with FCM Partners for Climate Protection, the Global Covenant of Mayors for Climate and Energy, and Race to Zero C40, among others 

(Project description from original funding application)