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Go green:Cut your business’s energy costs and combat climate change using the newClean Electricity Investment Tax Credit

Go green:Cut your business’s energy costs and combat climate change using the newClean Electricity Investment Tax Credit

BONDI Energy’s Mission to Decarbonize Multifamily and Commercial Buildings

By Stacey Rodas

 “It is integral for us as a society to decarbonize our building infrastructure, and heat pumps are the answer.” – Belinda Gilbey

As the world grapples with the urgent need to combat climate change, governments are encouraging businesses to shift towards green energy solutions. In Canada, the 2023 federal budget’s  Clean Electricity Investment Tax Credit  is one solution to reduce emissions causing climate change.

Businesses that use government  incentives  like this win in the long term

They save money and make a huge dent in decarbonization targets. And when it comes to businesses helping other businesses go green, Belinda Gilbey is at the forefront: As president and co-founder of BONDI Energy Corp (BONDI), her life’s work is retrofitting commercial buildings and multifamily unit apartments with heat pumps. Air conditioning in large buildings is a major source of greenhouse gases, which contribute significantly to climate change. That’s why, in Gilbey’s words, “BONDI’s efforts are aimed at encouraging the adoption of greener energy sources and phasing out gas as a primary building heating and cooling source.” And as a queer woman business owner, she leads her sector in creating a company as diverse as the people living and working in the buildings she retrofits.

Gilbey’s journey toward sustainable energy began early in her career. While working in sales and consulting for commercial properties in the energy sector, she developed a passion for creating cost-effective decarbonization solutions to improve efficiencies and reduce building energy consumption and operating expenses. Determined to make a difference, she sold her vision to Aaron Graben of Titan York Realty and they co-founded BONDI together. Under her leadership, BONDI expanded to the biggest markets in North America, including Toronto, New York, Detroit, and Chicago.

So what exactly is a heat pump retrofit, and how does it work? Essentially, a heat pump retrofit involves installing heat pump systems in an existing building to replace or supplement the building’s existing heating and cooling system. Heat pumps work by transferring heat energy from one place to another, rather than generating heat through combustion; this makes them much more energy efficient than traditional heating and cooling systems.

“By installing heat pumps, buildings can reduce their energy consumption and lower their carbon footprint, all while maintaining a comfortable indoor temperature,” says Gilbey. “In fact, retrofits can reduce energy consumption by up to 60 percent per building, making them a smart financial investment for businesses.”

Investing now is a smart move both for businesses and property owners, as well as those who lease: Landlords may soon face new regulatory-compliance expenses as governments consider implementing air conditioning requirements. This potential additional cost comes on top of shifts in the price of energy, which continue to impact the bottom line. Since heat pumps also reverse in the summer, they provide cost-efficient air-conditioning. BONDI manages the full retrofit process, including design, installation and maintenance, and even financing.

To make heat pump retrofits more affordable and to encourage wider adoption of the technology, BONDI partners with utilities and government agencies to secure funding and even applies for available grants and incentives on behalf of the property owner. But, as Gilbey notes, “one of the biggest challenges we face is education—helping people understand what heat pumps are and how they work.” Additionally, retrofitting existing buildings can be more complex than installing heat pumps in new construction.

Despite these challenges, Gilbey remains optimistic about the future of sustainable building. “We’re at a really exciting time in the industry. People are starting to see the benefits of sustainability, and they’re becoming more aware of the impact that buildings have on the environment. We have the technology and the know-how to make a real difference, and I believe we will see more and more buildings adopting sustainable solutions in the coming years.”

Gilbey and her team have been widely recognized for their contributions to the sustainable energy industry. BONDI was recently named one of Ontario’s Top 10 Cleantech Companies by the Ontario Sustainable Energy Association (OSEA) and was given the 2022 Best in Class Award for Energy Efficiency. Their work has been featured in The Globe and Mail, CBC, and Energy Manager Magazine, just to name a few.

Together, Gilbey and Graben and the entire team at BONDI are decarbonizing buildings, cutting energy costs, and fighting climate change, one heat pump at a time. For more information please visit Bondi Energy Corp  @bondienergycorp


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