because there were too many unrecovered costs to make it worth his while.
As a building professional, he knew the potential to increase the energy performance of the homes in his community. So, he signed up, to check out the new program.
Today, he keeps two crews busy with the weekly work orders he receives. His margin on energy retrofits projects has doubled. His reputation for quality installation and the favourable pricing on high-efficiency windows has made him more competitive in the marketplace for more customized work. He is proud of the role his business is playing in reducing the community’s emissions while helping to save his customers money.
4.1.2.3 How would it work for the investor?
For many years, Impact Investing Inc. had been looking for a partner to aggregate the residential energy retrofit market. Now, they cannot keep up with demand for their new investment offering. They can offer a slightly more attractive rate than Provincial 20-year Bonds to clients. The number of impact investors - looking for a reasonable return on their capital while making a difference on climate change - continues to grow. The insurance industry was the first to knock on their door but now pension funds are getting into the market.
4.1.3 Ongoing Operating Costs
The R-DEER Business Case included estimates for ongoing operating costs for the program (Appendix E – Full Business Case). These costs would be refined during the development of the Business Plan.
4.2 Pre-Launch
During the pre-launch period, the Entity would pursue market leads to support a successful program launch. In addition to traditional marketing approaches, the R-DEER Business Case contemplates providing funding ($100/retrofit) to community organizations to promote homeowner participation and community-led social change. Partnership with community groups, will be essential to build community awareness and buy-in to participate in the program.
4.3 Launch
Program launch is proposed to take place in the next few years (ideally by 2021) to provide reasonable time to:
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Establish the Entity (including hiring at least a General Manager);
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Apply for FCM funding;
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Develop and approve a Business Plan;
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Enact an LIC By-law;
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Execute a City-Entity agreement; and
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Prepare for Program Launch.