Federal Government Launches New Home Retrofit Grant Program
The federal government has launched a new program that offers homeowners grants to retrofit their homes and make them more energy efficient. The Canada Greener Home Grants program, funded to the tune of $2.6 billion, will offer homeowners grants of up to $5,000 that can be put toward energy-saving projects such as:
- Improved insulation;
- Air sealing, thermostats;
- Energy efficient heating and cooling equipment;
- Solar panels; and
- Energy-efficient windows and doors.
The program will also include grants of up to $600 that can be used for EnerGuide home energy audits. The Canada Greener Home Grants program is expected to award 700,000 grants over seven years.
There are certain eligibility criteria that must be met in order for the homeowner to take advantage of the grants.
Applications to register and book your evaluation are now available on the Natural Resources Canada website.
To support the anticipated need for energy advisors, the government recently announced that it is providing up to $10 million to recruit, train and mentor 2,000 new energy auditors.
In this year’s federal budget, the government proposed creating a separate fund of $4.4 billion over seven years through which the Canada Mortgage and Housing Corporation (CMHC) could offer homeowners interest-free loans of up to $40,000 in exchange for authorized energy-efficient retrofit projects. These loans could be available as soon as this summer, and it is believed that more than 200,000 households would take part in that program.
The Canada Greener Homes Grant program, the hiring of 2,000 new energy advisers, and the yet-to-be-launched $40,000 retrofit loan program through CMHC are all part of a bigger greener homes initiatives that is expected to be announced soon.
Talk to Stephanie Pinet from The Realty Deal about Buying, Selling, Investing or Renovating Your Home in the Hamilton-Burlington Area!