Decarbonization – The economics of
Canada’s carbon pricing (Part 3)
(feasibility assessment)
In earlier parts, we established that carbon prices in Canada will continue to rise each year at a predictable rate, and that Canadian building owners need guidance on the rising costs of carbon emissions. In this final part of the series, we review requirements for the feasibility assessment of typical decarbonization opportunities.
The scenario Suppose you are a member of the consulting team in the capital renovation of a commercial building that is leased/rented to multiple tenants. The owner’s objective for this renovation project development is to decarbonize the building. The scope includes improvements to the building’s envelope, replacing aging building services equipment with either higher efficient or non-fossil energy dependent alternatives, reworking ventilation and air distribution systems, and the production of onsite renewable energy. These renovations
Figure 1: About 80% of Canada's existing buildings will still be standing by 2050 when Canada plans to reach NetZero emissions. (Source: Canva Pro)
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Winter 2022 | www.ciqs.org | CONSTRUCTION ECONOMIST | 27