My friend Tom Rand has a short but no less interesting video filmed during a presentation he gave recently in Toronto. Rand helped build a “green hotel” that emits a quarter of the emissions of a comparable hotel. The workhouse behind this approach is geothermal, and Rand said it can be done in a way where energy savings exceed the monthly payments on a long-term low-interest loan. Now, the key is to get that cheap loan. Rand said it’s up to the federal and provincial governments to backstop such loans and mandate the banks to lend the money. It would help, he added, if use of this technology was mandated where it was appropriate. This, as Rand says, is low-hanging fruit that we’re simply not picking. Instead, with each new building or home we build we’re letting this ripe-for-picking fruit fall on the ground. Rand, it should be pointed out, is behind another move to have the government sell green bonds that would help fund these kinds of projects, or backstop the low-interest loans required to do them. It’s all perfectly logical, but I guess politics is never as logical as it could be.
Click here to watch the short video.