Annual Report 2025

2025 Annual Report

In 2025, EfficiencyOne continued to transform the way Nova Scotians use energy, reducing costs, strengthening businesses, and building communities that are more resilient and more affordable. Across the province, EfficiencyOne programs helped households lower their energy bills, supported businesses in reinvesting efficiency savings back into their operations, and deepened partnerships with Mi’kmaw and African Nova Scotia communities to ensure the benefits of energy efficiency are shared by everyone. As Nova Scotia works toward its climate goals, efficiency remains one of the most practical, accessible tools we have, delivering real results for real people.

Our Impact

Meet a few of the businesses and communities utilizing EfficiencyOne’s programs and guidance to save energy, reduce costs, and create a more sustainable future:

Oberland Agriscience

At Oberland Agriscience’s new 108,000-square-foot facility in Halifax, energy efficiency was considered with every design decision. From innovative HVAC design to integrated heat recovery systems, Efficiency Nova Scotia’s custom New Construction Program helped Oberland achieve 17.7 million in electrical savings and $51.6 million in estimated lifetime energy bill savings. The investments in efficiency are enabling the business to grow sustainably for the long term.

Maritime Gourmet Mushrooms

What started in 2014 as a passion for sustainable farming has grown into one of Nova Scotia’s most innovative agricultural operations. Maritime Gourmet Mushrooms leveraged Efficiency Nova Scotia’s Energy Manager Program, Business Energy Rebates, and Custom Energy Retrofits when building a new facility that is expected to achieve nearly $2.5 million in estimated lifetime energy bill savings – savings that will be reinvested as the business continues to grow.

Mi’kmaw Community Energy Planning

Since 2018, Efficiency Nova Scotia has partnered with Mi’kmaw communities across Nova Scotia to deliver energy-efficient upgrades to homes at no cost. In 2025, that partnership deepened with the launch of community-led energy roadmaps to 2050, covering schools, health centres, arenas, and more.

Maibec

When Maibec’s East River mill was built in the 1960s, energy efficiency wasn’t part of the plan. More than a decade of partnership with Efficiency Nova Scotia later, it’s become part of everything they do. What started with lighting retrofits has grown into a comprehensive efficiency program spanning compressed air modernization, pumping upgrades, and strategic energy management. These efforts have added up to $7.4 million in lifetime bill savings.

African Nova Scotian Communities Retrofit

Marion Bundy and her husband built their home in Preston Township in 1979. For years, it was cold in the winter, hot in the summer, and expensive to heat. Through the African Nova Scotian Communities Retrofit Program, Marion was connected to Efficiency Nova Scotia’s Homewarming and Oil to Heat Pump Affordability programs. Spray foam insulation, the removal of her oil tank and furnace, and improved air tightness combined to improve her home’s efficiency by nearly 30%. More importantly, Marion doesn’t dread her power bill anymore.

Our Board Chair and CEO

William Lahey

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

LETTER FROM THE BOARD CHAIR

Stephen MacDonald

Former President and Chief Executive Officer, EfficiencyOne (departed in March 2026)

LETTER FROM THE CEO

Financial Analysis and Discussion

In 2025, EfficiencyOne achieved 129.44 GWh of electricity savings and 23.56 MW of demand savings, above the targets of 138.57 GWh and 21.32 MW, respectively. In addition, 6.8 MW of available capacity attributed to demand response programs was achieved. Total investment was $60.4 million. We also achieved 353,585 GJ of energy savings and 23,635 tonnes of GHG reductions from Government Funded Programs in 2025, which helped us get closer to achieving our multi-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 $98.9 million. We received $110.9 million from Natural Resources Canada to distribute grants under the Canada Greener Homes Grant and Oil to Heat Pump Affordability programs.

Read Financials

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.

Learn About ESG Metrics

Past Annual Reports

For the fifth 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.

Download 2024 Annual Report (PDF)Download 2023 Annual Report (PDF)Download 2022 Annual Report (PDF)