City of Toronto & Toronto Atmospheric Fund's Green Energy Retrofit of Seven Social Housing Buildings
Type of initiative
FCM Green Municipal Fund - Capital Project
Sector
Energy
Project value$3,906,000
Project Type
Capital Project
Sub Sector
Building – Existing – Energy efficiency
Grant amount$511,466
Program type
GMF
Municipality
City of Toronto, ON
Loan amount$2,557,333
Status
Fully Disbursed
Population
2,794,356
Project timeline
2012 - 2017
Project number
12110
Description
Toronto Community Housing Corporation (TCHC) has partnered with the Toronto Atmospheric Fund (TAF) to retrofit seven social housing buildings through the Energy Savings Performance Agreement (ESPA). The ESPA is a performance-based, non-debt financing solution structured as a service agreement, which will enable TCHC to repay loan capital as a percentage of verified energy savings that are guaranteed and insured. The retrofit project targets a 30 per cent reduction in GHG emissions and 24 per cent reduction in utility costs across the seven buildings, which equates to approximately 1,323 tonnes of CO2 equivalent. Each building will be retrofitted with a range of energy-efficient equipment as well as state-of-the-art monitoring technology that will measure and verify resident comfort at the building and equipment level. The ESPA structure gives all parties a financial stake in achieving the projected energy and water savings, and supports cooperation for ongoing building optimization. It also models a new financial structure for social housing building retrofit projects. Many of the energy-saving measures will also improve quality of life for the 1,500 residents in the seven sites by replacing exterior lighting and renovating common areas. (As per February 10, 2016 announcement)
Project results
- 743 tonnes of GHG emissions avoided
- 18383 GJ of energy savings per year
- 53643 cubic metres of water saved per year
Environmental outcomes
- Reduced energy use
- Reduced or avoided GHG emissions
- Reduced water consumption
- Improved indoor air quality
Social outcomes
- Protection/improvement of public human health
- Increased public safety and security
- Increased staff health and safety
- Improved service delivery and/or level or service
- Improved public education or awareness
- Development of local programs
Economic outcomes
- Reduced maintenance costs
- Increased service life
- Lower taxes and fees
- Increased tourism
- Use of feasibility tools
Lessons learned
- Stakeholder and community engagement
- Communication & coordination
- Data and reporting
- Resources
- External factors
- Technical – Project specific
Applicant
Toronto Atmospheric Fund, ON