As mentioned, there are initial steps that we need to take, such as support for the deep retrofit accelerator initiative and the greener neighbourhoods pilot program, which are developing the mechanisms for how those projects get delivered but are also working through important challenges in things like panelization, the sweater around the building, that allows tenants to stay in place.
Those are good technologies. They've been proven in other countries. We have a slightly different building stock. It is not as homogenous, so demonstrating that those approaches work can help us reach scale.
The next challenge would be how we unlock private capital. How do we bring private capital into the retrofit equation? Largely, as mentioned, it is through things like PACE financing and clean tax building credits but also, and I think most importantly, by demonstrating that there is value beyond energy. It could be resilience or avoided losses. It could be the addition of things like distributed energy assets that allow buildings to participate as both generators and consumers of electricity. How do we achieve that?
