The federal government of Canada announced the Canada Greener Homes Grant. This grant helps home owners make their homes more energy efficient, save on utility bills and contribute to the fight against climate change.
Our homes account for 18% of Canada’s greenhouse gas emissions. If we’re going to meet the goals set out in climate initiatives agreed to by many countries world wide, we must reduce this figure. Helping Canadians with the cost to upgrade their home is good for the environment and also makes home ownership more affordable and comfortable.
Owner occupied homes are eligible for a grant of up to $5600 to help with the costs of the upgrades and the cost of energy audits. Up to $5000 for upgrades and $600 to cover the cost of the audit.
Homes must be evaluated for potential improvements and recommendations are made by auditors to determine the upgrades needed. The federal government is recruiting and training 2000 Energuide energy advisors who would come to your home to do the necessary audit.
This program is good for the environment and good for the economy! It will create jobs!
According to Natural Resources Canada the following projects qualify for the grant.
- Home insulation
- Air sealing
- Windows and doors
- Heating (including water heating)
- Renewable energy like solar panels
- Resiliency measures (incentives to protect your home and family from environmental damage
You can check out the Natural Resources Canada website for estimates on how much they may provide for each upgrade.
All materials and equipment must be purchased in Canada or from a Canadian online distributor.
When do you get the grant?
Homeowners must pay for the audit, pay for the upgrades, labour and materials, then pass a second audit before receiving the grant money from the government within a month or so, of the final report.
During the summer, the government is expected to announce an interest free loan program to provide up to $40,000 to help complete home retrofits in order to make the program accessible to more homeowners.
According to the CBC the demand for information and applications have been so great that the website for the program crashed temporarily. As of June 4, 2021 there have been 30,000 application so far. This is great news.
Maybe wait a little
The CBC also pointed out that provinces may follow up with additional programs of their own, therefore, you might want to wait a bit to see if something is announced by the province. Also, since many retrofits will cost more than the grant provides, you might also want to wait for the summer to find out if the $40,000 interest free loan can be utilized.
For more info or to make an application, check out the Canada Greener Homes Grant website.
If you are thinking about a renovation and don’t want to wait for the announcement, or you may not qualify for it, a refinance of your mortgage may help pay for the upgrades. Learn more about refinancing here.
Contact me to discuss options, I’d be happy to hear from you!