As Mr. Watchorn mentioned, municipalities operate according to borrowing capacity, but they have a borrowing limit. Once a municipality has exceeded that borrowing limit, where will it get the money from? Does it end the PACE-style program, which works?
What we're seeing right now is that it's very popular; people sign up for it, PACE-style programs are implemented, but the envelopes empty out very quickly, and the municipalities depend on grants, which often come through the green municipal fund, which means the Federation of Canadian Municipalities, or through other public funders.
Now, what can be done to interest private investors through a financial vehicle that could give them a certain return and enable them to lend, at a higher volume, the amounts needed to accelerate the decarbonization of homes?