Energy Retrofit Loans
City of Toronto

The Energy Retrofit Loan Program extends to various building types in Toronto, including:

• Commercial, Retail, and Industrial buildings
•  Multi-family Residential buildings
•  Condominium buildings (for common areas only, not individual units)
•  Social Housing buildings
•  Hospitals and Long-term Care facilities
•  Schools, Colleges, and Universities
•  Not-for-profit buildings
•  Hospitality establishments

Third parties are also eligible to apply on behalf of the building owner, and the funds will be disbursed to the building owner upon approval.

Eligible measures/technologies include:

•  Heat pumps
•  High-efficiency boilers, chillers and HVAC
•  Building envelope improvements
•  Building automation systems and controls
•  Lighting retrofits
•  Renewable energy systems
•  Energy/battery storage
•  Fuel switching
•  Other retrofit measures/technologies

How To Apply:

Step 1: Submit an Expression of Interest (EOI)

To begin the application process, download and complete the ERL Expression of Interest form PDF. Provide basic details about your project and submit the form to info@ greencanadahome.com

Step 2: Detailed Application and Supporting Documents

If your project meets the eligibility criteria, you will be invited to submit a detailed application. This application will require additional documentation to verify the energy and carbon savings of your project and create a comprehensive business case.

Required documents include:

• Two years of audited financial statements
• Detailed project summary, including estimated energy and emission savings, project costs, and a feasibility or engineering study
•  Technical specifications and equipment details
•  Facility description and project management timeline
•  Additional documents may be required based on the specifics of your project.

Step 3: Technical and Financial Review

City staff will carefully review your application and conduct a thorough technical and financial assessment. This review process will determine the eligibility of your project for funding.

Step 4: Funding Agreement

Once your detailed application is approved, the City will prepare a Funding Agreement that outlines the terms and conditions between the building owner(s) and the City of Toronto. Both parties must sign the agreement to proceed.

The interest rate specified in the agreement will remain valid for 60 days. After this period, the rate will be updated to reflect the City’s current cost of borrowing.

Sample agreements can be provided for relevant projects.

Step 5: Fund Disbursement

Upon approval and signing of the Funding Agreement, the funds will be disbursed to the building owner as outlined in the agreement.

The City provides fixed-rate financing for eligible projects, covering up to 100 percent of project costs. The terms of the financing can extend up to 30 years, depending on the business case assessment.

The interest rate for the financing will be determined based on the City’s cost of borrowing. Please note that the interest rate is subject to change as the City’s borrowing costs fluctuate on a daily basis. To inquire about the current interest rate or if you have any questions, please contact us at [email protected] We’ll be happy to assist you.