E’nergys Contributes to the Profile of the Energy Efficiency Industry in Quebec
E’nergys was pleased to contribute to the research that informed the Portrait of the Energy Efficiency Industry in Quebec, a study conducted by the HEC Montréal Chair in Energy Sector Management for the Quebec Council of Energy Efficiency Companies (CQ3E).
Presented on May 27, 2026, in Montreal, this study provides a comprehensive overview of Quebec’s ecosystem: its key players, its economic significance, its development potential, and the main obstacles that continue to hinder the implementation of projects.
A key tool, but one that is still underutilized
The first observation is clear: energy efficiency is an essential driver of Quebec’s energy transition.
By reducing and optimizing energy consumption, it helps limit the need for new energy production, transmission, and distribution infrastructure. It also contributes to peak-load management, grid resilience, lower energy costs, and organizational competitiveness.
Yet this potential remains largely untapped. Buildings account for about 33% of total energy consumption in Quebec, while the industrial sector accounts for about 36%.
In commercial and institutional buildings, the technical and economic potential for reduction is estimated at:
20,7 %
electricity consumption
46 %
46% of natural gas consumption
These results demonstrate the vast potential offered by building retrofits, the optimization of industrial processes, heat recovery, control systems, and power demand management.
An important industry for Quebec’s economy
Taking into account companies that are directly or indirectly involved in the sector, the study estimates that Quebec’s energy efficiency industry accounts for:
- nearly 12,000 companies;
- approximately $27 billion in annual operating revenue;
- nearly 100,000 direct and indirect jobs.
These figures should be interpreted with caution, since many companies and workers devote only a portion of their activities to energy efficiency. Nevertheless, they demonstrate the economic importance of the sector and its presence in all regions of Quebec.
Saving energy costs less than producing more of it
One of the most striking findings of the study concerns the collective benefits of energy efficiency.
An analysis of 606 projects completed under the EcoPerformance – Buildings program estimates the average cost of energy saved at approximately 2.98¢/kWh.
Furthermore, 98% of the projects analyzed have a cost of less than 12¢/kWh, which is Hydro-Québec’s estimated value for long-term avoided energy. In other words, in the vast majority of the cases studied, reducing consumption is less expensive than generating and transmitting new kilowatt-hours.
Financial assistance covered an average of 46% of the eligible costs of the projects analyzed, reducing the average payback period for consumers from 10.9 to 5.9 years.
Several obstacles still need to be overcome
The companies surveyed as part of the study identified three key challenges:
01
The Apparent Profitability of Projects
against a backdrop of low energy costs
02
Lack of knowledge
and customer engagement
03
The lack of predictability
public policy and the cost of carbon.
Added to these challenges are the fragmentation of the value chain, the lack of turnkey solutions, the complexity of certain financial assistance programs, and difficulties in recruiting qualified professionals.
The report thus highlights the need for better coordination of the expertise required for a project: energy analysis, engineering, financing, applications for financial assistance, project implementation, commissioning, and performance monitoring.
Turning Potential into Concrete Projects
Among the proposed approaches, the study recommends, in particular:
- a more comprehensive regulatory framework;
- a price signal that better reflects the costs of the energy system;
- greater consistency and continuity in public policy;
- optimizing financial assistance and funding tools;
- the development of initiatives to support the industry;
- better integration of the services offered to organizations.
These conclusions are directly in line with E’nergys’ vision: to enable property owners, manufacturers, and institutions to move from theoretical potential to a project that is financeable, feasible, and measurable.
Our integrated approach covers the entire process, from energy assessments to project completion, including engineering, securing financial assistance, financing, commissioning, and measuring and verifying energy savings.
Energy efficiency should no longer be viewed solely as an expense or an environmental obligation. It represents a strategic investment that can reduce costs, improve asset performance, and tangibly accelerate the decarbonization of Quebec organizations.