BOMA Toronto CDM Program Incentives Doubled
Wednesday, December 2nd 2009 11:27:37am
(Toronto, Dec. 2, 2009) The Building Owners and Managers Association (BOMA) of Toronto Conservation and Demand Management (CDM) Program has doubled incentives for all non-lighting projects. This was announced by BOMA CDM Program Director Wayne Proulx at the Property Management Exposition & Conference.
Effective immediately, the new incentive rates are: $800 per kilowatt of on-peak demand savings or $0.10 per kilowatt-hour annual consumption savings for non-lighting projects; $400 per kilowatt of on-peak demand savings or $0.05 per kilowatt-hour annual consumption savings for lighting projects; $250 per cooling ton (for ground source cooling projects). The incentives remain capped at 40 percent of the total eligible project costs. Office, retail, and hospitality properties, 25,000 square feet or greater in the 416 telephone exchange are eligible for the BOMA CDM Program.
The BOMA CDM Program is a cooperative arrangement between BOMA Toronto and the Ontario Power Authority (OPA). The Program provides financial incentives to both property owners and tenants towards the completion of electricity conservation projects. The CDM Program is an important initiative, since Toronto remains an energy supply constrained zone.
What do the new incentive levels mean for building owners? “Before, a chiller replacement project costing $600,000, and saving 200 kilowatts of energy, would have received an $80,000 incentive payment,” observed Proulx. “Now, the payout would be $160,000, or 27 percent of the capital costs.”
Even modest projects will benefit from the new incentive rates. Previously, a window-film project that reduces a building’s cooling load, costing $100,000 and saving 54 kilowatts of energy, would have received $21,600. Now the incentive payment would be $40,000.
The increase in incentives is designed to reflect the value of conservation to the electricity system and to motivate building owners, managers and tenants to undertake major electricity saving projects in 2010.
Project applications received after Dec 1, 2009 will be fulfilled at the new incentive levels. There will also be enhancements to facilitation assistance, and an increased number of program training sessions will be offered. Program applications can be reviewed and approved in less than two working days.
BOMA Toronto’s CDM management team and the OPA are extremely pleased to provide these enhanced capital incentives. All owners, managers and tenants of eligible buildings are urged to contact BOMA immediately for an assessment of their building’s energy conservation potential.
For more information, or to arrange interviews, please contact:
Don Huff, Environmental Communication Options, firstname.lastname@example.org or (416) 972-7404
Or visit www.bomacdm.com.
The BOMA Toronto CDM Program has been contracted to deliver electricity conservation to the Ontario commercial real estate market as part of the OPA's larger plan to deliver 6300 megawatts of electricity reduction in Ontario from various sources. The available generous incentives, capped at 40% of the eligible projects costs, are for on-peak demand, annual consumption or cooling ton reduction. The Program is designed to maximize participation by the avoidance of both 'process' and 'contractual' complications and the quick delivery of incentive payments.