Feasibility of an Oakville-based Residential Retrofit Business

Oakville Enterprises Corporation (OEC) will partner with the Town of Oakville to complete a feasibility study of a home energy retrofit financing program. OEC is the unregulated arm of Oakville Hydro, a corporation wholly owned by the Town of Oakville. This initiative is supported by the town’s Community Energy Strategy (2020), which aims to achieve a 30% improvement in residential-sector energy efficiency by retrofitting 80% of the town’s existing homes by 2041. The study aims to achieve the following goals: explore available financing models (utility on-bill repayment and local improvement charge) and recommend the preferred option(s) for Oakville; identify a potential program delivery partner and key stakeholders; identify unique program features with an emphasis on market uptake barriers and how to overcome them through program design and delivery; and evaluate the potential program uptake and local benefits. OEC will act as the main project lead and will engage and manage a third-party consultant to support all necessary analytical and research aspects of the study. OEC will also work with a member of the town’s Climate Action Team, who will acquire and share municipal data, liaise with the appropriate municipal departments and leadership, and ensure that the study aligns with the strategic direction of the Community Energy Strategy. While the program’s projected uptake and anticipated benefits will be refined as part of the study, an earlier analysis estimates participation of 60,000 homes over 20 years. This would result in energy savings of approximately 2,441,092 GJ per year and greenhouse gas emissions reductions of 80,127 tCO2e per year. Community benefits would likely include household energy cost savings, increased energy equity, the creation and retention of jobs, improved home comfort and occupant health, and increased resiliency to climate change. Innovative aspects: · The project’s implementation and delivery approach will leverage a vast network of partners and local utilities (Oakville Hydro, Enbridge Gas, Oakville Task Force, Sheridan College, the Construction Safety Association, Halton Region, etc.) who will be involved in community engagement and uptake, contractor training, and offering rebates and incentives. · Establishment of a publicly owned concierge retrofit agency. · Development of a marketing strategy to reach the 60,000 homes required to achieve the town’s greenhouse gas emissions reduction target. · The program will include an equity lens to actively target uptake by lower-income residents. Replicability: The proposed initiative has a unique business model allowing for the joint venture between the town, OEC and the town’s retrofit agency. This model features a built-in replication to share lessons learned with local industry, neighbouring municipalities, and other interested Canadian municipalities. (Project description from original funding application)