An energy-efficient building sounds great in theory—who doesn’t want to save money and help the environment? But achieving eco-friendliness is easier said than done. Making upgrades to your building to save energy and cut down on expenses can cost a pretty penny at first. While many property owners would love to make these changes to make their building eco-friendlier, not all can afford the cost of the initial investment. Fortunately, Ontario several initiatives that offer energy rebates to condominium buildings to help them achieve their energy-saving goals. If you’re curious about commercial energy rebates you think your property could benefit from, keep on reading to find out about some helpful incentives and programs.
Retrofit Program for Apartments/Condos
Hydro One offers a “Retrofit Program” for owners and managers of commercial, institutional, and multi-residential buildings. The goal is to help upgrade older equipment in these buildings with new, high-efficiency gear.
The incentives can cover up to 50% of project costs, but the actual value will depend on the amount of energy you’re able to save by switching over to new equipment.
It’s important to note that since Hydro One’s Retrofit Program is based on your energy savings, they may need to conduct a site visit to assess your old equipment, to guarantee your rebate, and to get your project approved before making any changes or upgrades.
Examples of the types of ventures this program covers include, but are not limited to:
- Variable frequency drives for fans, pumps, HVAC
- Refrigeration, both retail and industrial
- Monitoring and targeting information systems
- Compressed air systems upgrades or replacements
- Chiller plant upgrades or replacements
How Can PL Energy Services Help?
While the government offers a wide array of rebates and incentives for eco-friendly businesses, sometimes it can be difficult to secure these funds. Collecting the proper documentation and navigating your way through all the bureaucracy is a job on its own, but luckily, you don’t have to do it alone. PL Energy Services can help your business take advantage of all the rebates it’s eligible for, freeing up assets that you can re-allocate to help grow your company. Our team of specialists can complete all necessary engineering documentation and studies to maximize your incentive return. Contact us today to learn more.