"That market is increasing and actually increasing very, very quickly right now," said Stanley Reitsma, president of the Ontario Geothermal Association.
Builders now have an alternative to paying the upfront infrastructure cost themselves — third parties such as FortisBC Alternative Energy Systems and Toronto-based Diverso Energy will build and operate the borefield, then charge a monthly or annual service fee over decades to the condo owners. This way, "the developer gets to offload the risk and the costs associated with geothermal," said Jon Mesquita, Diverso Energy's chief operating officer. In B.C., such utilities are regulated and there are regulatory incentives for signing up with them.
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Here's an interesting article published by the CBC on "Why geothermal is a hot trend in new condos."
We want to thank Stacy for her Google review. Stacy said the following...
A new generation of condominium buildings is being designed with a focus on reduced carbon footprints.
Collecdev is implementing geothermal energy systems in new condos. A new generation of condominium buildings is being designed with a focus on reduced carbon footprints and long-term savings for residents. Two GTA condo developments are under construction with geothermal energy systems, and another soon to begin. This is great news! What do you think? Check out the entire article here.