EnWise Power Solutions Inc. (EnWise) is a privately-owned, Toronto-based environmental company built on the principles of sustainability and social responsibility. EnWise launched with the sole purpose of providing Canadian homeowners with a means to turn their environmentally proactive wishes into a carbon-reducing reality. The 80 person-strong company assists consumers who have the will but lack the know-how to radically improve the energy efficiency and comfort of their home, reduce their home’s ecological footprint, and save money on household utility bills in the process.The company’s unique business model affords it an unrivalled entry into to the market. EnWise is the only Ontario company of its kind to go beyond merely advising homeowners about how their house is energy-inefficient, and what products they might need to improve it. The first step, known as a ‘home energy audit’ is where other companies stop, but with EnWise, this is just the beginning of their four-step, one-stop shop solution that ends with homeowners saving money and the environment, while improving the quality and comfort of their home.
Once a homeowner contacts EnWise, their Residential Energy Professionals (REPs) are certified by the Government of Canada to advise customers proactively on best-in-class solutions for their home’s environmental and energy use shortcomings. The process continues with the EnWise installation team making those improvements so the homeowner does not have to. The company also offers financing via EnWise Capital Corporation if of interest to the homeowners. Depending on the particulars of the home energy audit, the improvements implemented will offer guaranteed savings on the utility bills from the onset. Improvements may even result in positive cash flow as the energy savings may actually be greater than the monthly payment financed through EnWise Capital.
The company embodies a relaxed, altruistic corporate culture, reflective of its leaders Peter Hwang (president & CEO) and Phil Winters (chief sustainability officer). A small group of investors co-funded the company’s inception with a vision of creating a national culture of conservation and ultimately providing leadership in developing sustainable market driven environmental solutions.
The launch of EnWise is particularly auspicious as it catches a change in social attitudes towards the environment, and the federal government’s EcoEnergy Efficiency Initiative of April 2007. The latter is a $300 million program that entitles Canadian homeowners to receive rebates as high as $5,000 to make their homes or businesses more energy efficient. In June 2007, the Ontario government announced that it would match the Federal commitment therefore making homeowners eligible for up to $10,000 in grants and rebate incentives which offset the cost of energy conservation efforts. EnWise is a certified delivery agent of the ecoENERGY program and facilitates access to these rebates to their customers as part of its offering. EnWise guarantees its customers a significant reduction in home energy consumption if its recommendations are carried through to implementation.
EnWise’s initial target market is people who own houses that are 10 years or older within Southern Ontario, with plans to expand this service territory to other provinces and select US States during the coming months.
In the future, EnWise plans to grow into new home construction and commercial markets assisting both home developers and businesses to embrace a culture of energy conservation while minimizing their impact and highlighting their environmental benefits and improved comfort and reduced operating costs.
Further information on EnWise Power Solutions is available on the company’s website at www.enwisepower.com.
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