Energy Retrofit Loans
Through the Energy Retrofit Loan (ERL) program, the City offers fixed, long-term, low-interest financing to enable building owners to invest in low-carbon, energy-efficient capital improvements.
Offered by Environment Climate & Forestry Division (City of Toronto)
Amount
Financing for up to 100 per cent of project costs at a rate equal to the City’s cost of borrowing, with repayment terms up to 30 years for qualifying projects
Quick eligibility check
Who can apply
All buildings located in Toronto are eligible, including:
- Commercial, retail and industrial
- Multi-family residential
- Condominium (common areas only, not individual units)
- Social housing
- Hospitals and long-term care
- Schools, colleges and universities
- Not-for-profit
- Hospitality
Authorized third-parties are eligible to apply on behalf of the building owner. Funds will be dispersed to the building owner.
About the funding
Through the Energy Retrofit Loan (ERL) program, the City offers fixed, long-term, low-interest financing to enable building owners to invest in low-carbon, energy-efficient capital improvements.
Highlights include:
- Financing for up to 100 per cent of project costs at a rate equal to the City’s cost of borrowing, with repayment terms up to 30 years for qualifying projects
- Funds are advanced at project start
Show all funding details
- Unsecured loans may be available
- Up to one-year interest free and payment free
- Support to access utility incentives and federal grant programs
The City offers fixed-rate financing for up to 100 per cent of project costs for terms up to 30 years. Funding limits will be determined by a business case assessment.
The interest rate will reflect the City’s cost of borrowing. As the City’s cost of borrowing varies daily, the actual interest rate cannot be confirmed until the loan is approved.
Eligible measures/technologies include:
- Heat pumps
- High-efficiency boilers, chillers and HVAC systems
- Building envelope
- Building automation systems and controls
- Lighting
- Renewable energy systems
- Energy/battery storage
- Fuel switching
- Other retrofit measures/technologies
Similar programs
| Program | Type | Amount | Status |
|---|---|---|---|
| Forest Sector Investment and Innovation Program (FSIIP) – Business Projects | Loan, Grant | Performance-based loan of up to a maximum of 30% of eligible project costs (forgivable portion to a maximum of 50% of the loan amount) | Open |
| Regional Development Program: Advanced Manufacturing and Innovation Competitiveness Stream | Grant, Loan | Up to 15% of eligible project costs | Open |
| BDC Small business loan | Loan | Up to $350,000 per BDC Small Business Loan: up to $100K (up to 6 months interest-only payments, 5-year amortization) or over $100K and up to $350K (up to 12 months interest-only payments, up to 8-year amortization) | Open |
| BDC Working capital loan | Loan | No fixed amount | Open |
