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Tuesday, June 7, 2011

Property Management – Today’s Focus – Cost Containment & Sustainability

by Peter Leroux (Toronto)

For Property Managers today, our focus is very much is on cost containment and sustainability. While not always mutually inclusive, energy conservation is an initiative that achieves both of these objectives. In Ontario, there are currently a number of grants and incentives available to assist managers in improving their building’s energy efficiencies.

For example, Hydro One offers up to $25,000 in incentives to conduct an electricity survey and analysis of your building. Based upon your findings, for buildings greater than 50,000 square feet in size, there is a further incentive of up to $35,000 available for capital improvements that provide long term hydro savings. Hydro One also offers a Retrofit Program that provides building owners with financial incentives to replace existing inefficient building equipment with new high efficiency replacements, as well as funds are available for system design improvements that produce electricity consumption savings.

Enbridge Gas is currently offering incentives of up to $100,000 for capital improvements that substantially reduces your building’s gas consumption. Funding of up to $30,000 can also be obtained to replace your existing building boiler system with new condenser boiler technology and equipment.

These are just a few of the incentive programs out there to help you improve your energy efficiency and lower your costs. The key to taking advantage of these programs is to study and complete the required application forms. The requirements can vary by municipality and energy provider, so stay focused on the task. The good news is, even though it is a process, the utilities have people to assist you in formalizing your program. Do not lose sight that there is money to be had.

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