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Financing

1. Own and Operate

Ameresco Geothermal offers a financial option specially designed for property owners and developers of multi-residential condominiums and commercial properties.

With this option, Ameresco owns and operates the geothermal system, monitors and maintains it, replacing equipment even at life under a 30-year Geothermal Energy Supply and Service Agreement.

Ameresco’s “net zero cost” financing means developers/owners can install Ameresco geothermal systems, gaining significant marketing benefits from providing a premium “green” building, without any increase in their initial investment.

Financial Benefits

• $0 additional capital required
• Lower operating costs right from Day One
• Fixed fee for 30 years, increases by only 2.5% per year
• System monitored 24x7x365, with 24 hour emergency service
• No additional maintenance expenses
• No unexpected service costs
• Equipment replaced at life
• No capital reserve fund required

2. Government/Utility Incentive Programs

There are a number of government rebates and incentive programs available for incorporating renewable energy systems into your building. Some are region or project-type specific, and all require building owners to follow an application process. Program criteria may change, so building owners are encouraged to visit website links for the most up to date information.

ecoEnergy for Renewable Heat

Region: Canada
Project Type: Industrial, Commercial, Institutional, Multi-Unit Residential; New Construction, Retrofit

Incentive: ecoENERGY for Renewable Heat offers an incentive to industrial, commercial and institutional purchasers of active solar air and/or water heating systems. The incentive is based on a rate per square metre of collector area multiplied by a collector-specific Performance Factor and Incentive Rate. The exact value of the incentive will depend on the type of solar equipment selected by the builder.

Website: www.ecoaction.gc.ca

ecoEnergy Retrofit Incentive for Buildings

Region: Canada
Project Type: Medium sized Commercial, Institutional, Multi-Unit Residential; Retrofit

Incentive:

• $10 per GJ of estimated annual energy savings; or
• 25% of eligible project costs; or
• $50,000 total.

Note: A pre-project energy audit is required before incurring any project costs and must be submitted with application. Each building cannot exceed 20,000 square metres.

Website: http://oee.nrcan.gc.ca

Enbridge and Union Gas – Design Assistance Program

Region: Ontario
Project Type: All Building Types; New Construction, Additions to Existing Developments and Major Renovations

Incentive:

• $4000 (fixed) for energy modeling
• 30% (max $4,000) of costs of energy audit (applies to retrofit applications); can be used in combination with incentive for energy simulation.

Note: This program is designed to reduce natural gas consumption in new and existing buildings.

Website: http://portal-plumprod.cgc.enbridge.com

Enbridge and Union Gas – Custom Application Program

Region: Ontario
Project Type: All building types; New Construction; Retrofit

Incentive:

• $0.075/m3 saved up to $15,000 for measures that reduce a building’s natural gas consumption (may include building controls, process equipment, and building envelope measures).

Note: This program is designed to reduce natural gas consumption in new and existing buildings.

Website: http://portal-plumprod.cgc.enbridge.com

Ontario Power Authority – High Performance New Construction Program (Administered by Enbridge and Union Gas)

Region: Ontario (excluding 416 area code)
Project Type: Industrial; Commercial; Institutional; Multi-unit Residential; New construction only

Incentive: Refund of Provincial sales tax paid for the installation of solar energy systems.

• 2 Streams to choose from: Prescriptive or Custom (must choose one per project)
• Prescriptive: $250 for every kW saved. Savings can come from lighting, motors, appliances, space cooling (e.g. geothermal cooling load)
• Custom: simulation incentive of 100% of modeling costs (up to $10,000) plus implementation incentive of $250 per kW saved for up to 25% above Ontario Building Code 2006 standards ($300/kW for 25.5%-50% above OBC 2006; $400/kW for greater than 50% above OBC 2006). Also included: incentive for design decision makers of $50/kW saved for 25.5%-50% above OBC 2006 ($100/kW for greater than 50% above OBC 2006).

Note: This program is designed to reduce peak electric demand in new buildings. Thus energy savings cannot come from electrical (fuel) substitution (unless incorporating a defined alternative energy measure for space cooling, i.e., geothermal). Prescriptive stream does not require energy modeling; savings are determined by mechanical electrical plans. An approved energy simulation program must be used to determine savings in the custom stream.

Website: www.powerauthority.on.ca/sop

Ontario Power Authority - Standard Offer Program for Renewable Energy Production

Region: Ontario
Project Type: All Building Types; Retrofit and New Construction

Incentive: Refund of Provincial sales tax paid for the installation of solar energy systems.

• $0.42/kWh, for solar photovoltaic installations; and
• $0.11/kWh, for other renewable power production (e.g. wind, water, biomass).

Note: This incentive is for electricity that is generated on site and sold back to the Ontario Power Grid. It is not for energy that is consumed by the building itself. For building owners/developers, this would apply if the project generated more electricity than the building consumed; extra power could be sold back to the OPA.

Website: www.powerauthority.on.ca/sop

Electricity Retrofit Program (ERIP)

Region: Ontario
Project Type: All Building Types; Retrofit only

Incentive:

• 2 Streams to choose from: Prescriptive or Custom (must choose one per project)
• Prescriptive: predefined technologies earn incentives for a performance-based energy savings.
  Alternative hot water heating ($240/m2 of installed solar water collector area)
  Alternative space cooling ($250/ton of cooling capacity for geothermal installations)
  High efficiency lighting
  High efficiency motors
  
• Custom: all equipment and energy saving measures incorporated in the project are evaluated for an overall performance improvement ($250/kW of peak electrical demand reduction)

Note: This program is administered by Local Distribution Companies (LDC). Building owners can check the OPA website to confirm their LDC is a participant. Applications are submitted through the LDC.

Website: http://business.everykilowattcounts.com/com/programs-incentives-rebates.php?pir=ERIP

Better Building Partnership - New Construction (BBP-NC)

Region: Toronto
Project Type: Commercial, Industrial, Institutional, Multi Unit Residential; New Construction only

Incentive:

• $2000 + $0.2 per m2 of floor area up to $7000 for energy modeling; and
• $350 per peak kW of electrical demand reduction; or
• $0.04 per annual kWh reduced versus the basic requirements of the Ontario Building Code.

Note: Buildings must qualify under Part Three of the Ontario Building Code.

Website: www.toronto.ca/energy/bbp-nc.html

Better Building Partnership – Existing Buildings (BBP-EB)

Region: Toronto
Project Type: Municipal, Academic, Social, Healthcare, Multi Unit Residential; Retrofit only

Incentive:

• 400 per peak kW of electrical demand reduction; or
• $0.05 per annual kWh reduced versus the basic requirements of the OBC.

Note: Buildings must have been occupied before July 5, 2006. Electricity reductions as well as other energy reductions are eligible.

Website: www.toronto.ca/energy/bbp-nc.html

Sustainable Energy Funds

Region: Toronto
Project Type: Municipal, Academic, Social, Healthcare (or other not-for-profit entity); New Construction

Incentive: Loans at 0% interest to a maximum of $1,000,000 or 49% of construction costs.

Note: Projects are considered on a case by case analysis and must present a feasibility study and outline the project’s potential to demonstrate environmental, social, and economic benefits resulting from the loan.

Website: http://www.toronto.ca/energy/sef_info.htm

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Financing for our geothermal and renewable energy systems