Annual Report 2023

2023 Annual Report

In 2023, EfficiencyOne continued to inspire and enable Nova Scotians to contribute to big changes in their communities. For the fourth straight year, our programs and services have reduced more GHG emissions than the previous year, while saving Nova Scotians money, conserving resources, improving wellbeing, and combatting climate change. Without the support of the businesses, residents, and partners across Nova Scotia, we could not report such impactful numbers.

Change Makers in Mahone Bay – SchoolHouse Gluten Free

By transitioning from oil to a heat pump, SchoolHouse Gluten Free Bakery was able to save $600 a month. The support from EfficiencyOne helped SchoolHouse keep its doors open through challenging times. Learn more about what EfficiencyOne programs can do for your business at

Change Maker in Annapolis Valley – Frances Israel

Frances Israel, a 78-year-old woman from Melvern Square, had her basement insulated and a heat pump installed through the HomeWarming program. The upgrades have made her home more comfortable and liveable while delivering energy savings. Learn more about the HomeWarming Program at

Change Makers in Sydney Nova Scotia – Live Stor

Live Stor, a full-service cold storage facility in North Sydney, made a series of changes through the Business Energy Rebate program that will lead to annual energy bill savings of over $90,000. Learn more about the Business Energy Rebate program at

Change Makers across the province – Tawaak Housing

Tawaak Housing is making a big impact, providing off-reserve affordable housing for indigenous families and individuals in need in seven communities across the province. EfficiencyOne has supported Tawaak Housing with a variety of upgrades on 90 units, resulting in average annual savings of over $4,000. Learn more about the Affordable Multifamily Housing program at

Our Board Chair and CEO

William Lahey

Founding Chair of the Board, EfficiencyOne, President and Vice Chancellor, University of King's College

Read Board Chair Letter (PDF)

Stephen MacDonald

President and Chief Executive Officer, EfficiencyOne

Read President & CEO Letter (PDF)

Financial Analysis and Discussion

In 2023, EfficiencyOne achieved 131.6 GWh of electricity savings and 27.577 MW of demand savings, above the targets of 120.7 GWh and 26.9 MW, respectively. In addition, 2.42 MW of available capacity attributed to demand response programs was achieved. Total investment was $45.3 million. We also achieved 442,724 GJ of energy savings and 22,723 tonnes of GHG reductions from government funded programs in 2023, which helped us get closer to achieving our four-year energy and carbon emissions savings targets on behalf of the Province of Nova Scotia and the Government of Canada. Total investment to achieve these savings was $47.4 million. We received $57.6 million from Natural Resources Canada to distribute grants under the Canada Greener Homes and Oil to Heat Pump Affordability programs.

Environmental, Social & Governance (ESG)

Sustainable business practices are essential for the long-term success of our organization, society, and the planet. Through annual reporting and proactive initiatives, we aim to demonstrate our dedication to Environmental, Social and Governance practices and our role in creating a better future for everyone.

Past Annual Reports

For the fourth straight year, Efficiency programs and services have reduced more GHG emissions than the previous year. Nova Scotians continue to contribute to significant energy savings and make a positive impact in our community. View our collective progress and impact in past Annual Reports.