The Government of Canada awards Graham Capital over $4 million to support deep energy retrofits across Canada
The Honourable Jonathan Wilkinson, Minister of Energy and Natural Resources, announced NRCan’s Deep Retrofit Accelerator Initiative (DRAI) and other funding related to the Federal Government’s Canada Green Buildings Strategy on July 16, 2024, in Vancouver, BC.
Canada’s 2030 Emissions Reduction Plan (ERP) outlines a sector-specific roadmap for a 40 to 45 percent reduction in greenhouse gas (GHG) emissions by 2030, with a goal of net-zero emissions by 2050. To meet these targets, the Government of Canada is implementing programs to help accelerate building retrofits.
Deep Energy Retrofit Program
Graham Capital created a turnkey solution for existing building owners. This comprehensive solution addresses project development, financing, construction, measurement, and verification needs. The simple, replicable structure streamlines the project delivery process.
Through the Green Buildings Strategy, the Government of Canada is investing $177 million in projects like Graham’s Deep Energy Retrofit Program.
Figure 1. Breakdown of Canada's greenhouse gas emissions by economic sector (2022)
Canada Green Building Strategy
The Canada Green Buildings Strategy (CGBS) launched the Deep Retrofit Accelerator Initiative to tackle the significant greenhouse gas emissions from buildings, Canada’s third-largest source of GHG emissions. (Over 96 percent of these emissions originate from space and water heating.) Deep retrofits enhance a building’s energy efficiency, reduce GHG emissions, and improve resiliency through comprehensive upgrades. This process can result in up to 70 percent energy savings and reduce emissions by up to 80 percent, making heating and cooling more affordable and improving occupant safety and health.
Since about 50 percent of today’s buildings will still be used by 2050, there’s a crucial opportunity to cut emissions. Graham Capital supports this initiative by providing expertise in project development, financing, and construction for deep retrofit projects, helping achieve Canada’s net-zero goal by 2050.
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Funded initiatives announced with the Canada Green Buildings Strategy