There are two new federal government programs available to help homeowners improve the energy efficiency of our homes.
In combination, these two initiatives are designed to help eligible participants make deeper, more costly retrofits that have the biggest impact in reducing a home’s environmental footprint and energy bills.
Buildings, including our homes, account for 18% of Canada’s greenhouse gas emissions. So, in order to help Canadians make where we live more energy-efficient and, at the same time, ensure homes are more comfortable and affordable to maintain, homeowners are eligible for up to a $5,000 grant through the Canada Greener Homes program.
Under the new grant, eligible homeowners receive an EnerGuide home energy evaluation before and after their renovations at their cost, although the evaluation cost is eligible for an additional $600 grant to help cover the inspection costs.
Retrofits may include windows, doors, thermostats and hot water equipment. Click here for more details, including how to apply for the grant.
$40,000 interest-free loan
The 2021 budget also announced a break to help homeowners who wish to undertake energy-efficient home improvements in the form of interest-free loans up to $40,000. This will assist those looking to make substantial modifications that have a significant impact in reducing a home’s environmental footprint and energy bills.
Loans are available beginning in summer 2021 to homeowners and landlords who undertake retrofits identified through an authorized EnerGuide energy assessment.
This program also includes a dedicated stream of funding to support low-income homeowners and rental properties serving low-income renters, including cooperatives and not-for-profit owned housing.
Examples of deep retrofits to make homes greener include:
- Replacing oil furnaces or low-efficiency systems with a high efficiency furnace, air source heat pump or geothermal heat pump
- Better wall or basement insulation and/or wall or roof panels
- Installing a high-efficiency water heater or on-site renewable energy like solar panels
- Replacing drafty windows and doors
Have questions about these initiatives or about financing any of your home improvements? Answers are a call or email away!