CEF- FS - Studying a Home Energy Loan Program in the Town of Aurora

The Town of Aurora will study the feasibility of a home energy retrofit financing program to address reductions in residential greenhouse gas (GHG) emissions and energy use by evaluating a property assessed clean energy (PACE)/local improvement charge (LIC) model. 

The feasibility study will:

• Assess the challenges and barriers for homeowners to access the proposed energy retrofit program 
• Conduct market analysis and stakeholder engagement to better understand the local context and building stock 
• Explore regional opportunities and existing regulations and 
• Present potential solutions to move forward to detailed program design 

Currently, residential building stock represents 45% of energy use and 37% of emissions in Aurora. Preliminary targets indicate an initial focus on retrofitting all pre-1980 homes and eliminating existing use of fuels such as propane, wood, and fuel oil. 

The study is aligned with the town’s Community Energy Plan (CEP 2021) which targets 80% emissions reductions from 2018 levels by 2050 and supports the town’s climate emergency declaration (2019).

Innovative aspect(s): 

• While focused on the residential sector, the study intends to explore linkages to newly developed green development standards that could inform the town’s capacity for the retrofitting of commercial and industrial sectors in the future
• The future financing program will ultimately increase demand of energy efficient technology, resulting in the generation of new business opportunities for local contractors and organizations

Replicability: The study outcomes including lessons learned have the potential to benefit other communities across Ontario. The proposed financing model and implementation approach could be replicated in whole or in part across many communities.