COST SAVING THROUGH ENERGY MANAGEMENT

The results of each review will vary and so will the projects each community chooses to take on to help reduce energy consumption. Through over 200 projects we have helped our communities save over $3M/year with an upfront investment of $6.8M and claim $1.3M of incentives which results in a return on investment in 1.9 years. We have also helped our communities take advantage of rate optimization benefits and renegotiating poor energy contracts, resulting in an additional savings of over $5.5M/year.

It’s no secret that inflation has everyone trying to sort out how to be smart about spending on necessities and where and how they can save money. The same can be said for the boards of directors at condominium corporations that have the difficult task of maintaining a certain level of service that residents have grown accustomed to and major projects including renovations that may be required in the community.

At FirstService Residential, we recommend our clients look for opportunities to offset costs through energy manage - ment. While each community we manage is different, how we approach each site when it comes to energy management is simple. The starting point for each of our communities include:

• Historical review of energy costs/ projects.

• Strategic review of reserve fund study apex.

• Energy baseline with targeted plan for cost/energy/carbon reduction.

• Staged out energy management opportunities with transparent processes.

• Discounted EWRB reporting.

It is our years of experience and depth of resources that help us make energy management our communities’ best investment. With the support of our North American wide FirstService Energy, our energy management and advisory affiliate, we successfully help our clients enhance their building’s energy efficiency through careful consideration of all practical efficiency opportunities and providing suitable solutions tailored to each community.

Not only does energy management benefit the community through helping manage affordability, enhancing building functionality and improving the marketability of the property but it also benefits the environment. In Ontario, large buildings like condominiums account for over 20% of greenhouse gas emissions. With more regulations starting to come into play that prioritize making communities more environmentally friendly, now is the time to consider how your community is impacting the environment. fsresidential.com/ontario/ 416.293.5900

Francesco Deo Chair, Volunteer Resources Committee