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Executive Summary I Background Core Principles There are a number of big picture principles and concepts that further illuminate this plan: I® Be fiscally responsible and avoid replacing equipment before it is worn out. Allocate the replacement budget to the decarbonized alternative instead, which will typically save 25-50 % of the capital cost. Also work within the context of existing equipment and reuse existing systems wherever possible. Completely tearing out and replacing systems has higher embodied carbon, is usually more costly, and always more disruptive. eUse proven technologies. Full zero carbon performance can be achieved via current technologies. Louisville needs results and should not be a guinea pig for untested technologies. �p Provide the greatest value for least cost. Full decarbonization, particularly electrification, is expensive. It is critical to pursue the various financial incentives available at the local, state, and federal level. In addition, many decarbonization measures can provide co -benefits, providing value streams that offset costs. OZero carbon power. Louisville acquires 100 % renewable electricity through utility purchase programs, so all electrical uses are assumed to emit zero carbon. However, reducing energy and electrical load has other financial benefits and related co - benefits. 0Key Findings ENERGY EFFICIENCY & LOAD REDUCTION Clear, full, decarbonization pathways exist for all City buildings and its fleet. In most cases these approaches are based on retrofitting the existing HVAC systems, not gutting the building entirely. Efficiency and load reduction strategies often have lower life -cycle costs than current electricity costs. These are outlined in greater detail in the individual building reports and are recommended for immediate implementation. Hybrid building electrification is an excellent near and mid-term approach. Hybrid mechanical heating systems, which utilize electricity as the primary heating source and natural gas as a backup, achieve the decarbonization "sweet spot" via substantial carbon reductions (i.e. 75 %+)while reducing overall costs up to 50%. City -owned renewable electricity generation will reduce utility costs and provide greater benefit to the Louisville community. Substantial opportunities exist for on -site renewable electricity. A combination of Inflation Reduction Act and Xcel Energy incentives make this a very attractive option for the City and result in on -site renewable electricity being cheaper than utility -provided electricity. In addition, on -site renewables provide additional resiliency and signal the City's commitment to decarbonization Louisville Decarbonization Process Diagram DECARBONIZATION ELECTRICAL MEASURES LOADIMPACT ® Key Recommendations Based on the findings above and detailed findings throughout this report, a formal adoption of the City's decarbonization target is recommended: • 100 % Decarbonization by 2040 • Retain100% Renewable Electricity (underway) • Decarbonization Plan Progress Update Every 5 7 Years CITY OF LOUISVILLE I FINAL REPORT V3 1 INTERNAL DECARBONIZATION PLAN 15 W