Making your home more energy-efficient is not only a smart way to reduce utility costs but also a meaningful step toward a more sustainable future. For homeowners in Canada, there are numerous programs designed to support these upgrades. With options for energy-efficient home improvement credits ranging from grants to loans and rebates, you’ll find valuable opportunities to offset the cost of making your home more energy-efficient while contributing to a greener environment.
Federal Energy-Efficient Home Improvement Programs
Canada Greener Homes Initiative
The Canada Greener Homes Initiative is a federal program designed to support homeowners in making energy-efficient home improvements more affordable. It offers up to $5,000 in grants and interest-free loans of up to $40,000 to help cover the cost of upgrades such as energy-efficient windows, improved insulation, and renewable energy systems like solar panels. To qualify for the Canada Greener Home Initiative, applicants must complete the EnerGuide home evaluation, which identifies areas for improvement and ensures upgrades meet eligibility requirements.
Canada Greener Homes Grant
The Canada Greener Homes Grant provides between $125 and $5,000 in financial assistance to homeowners looking to invest in energy-efficient home improvements. This grant is designed to offset the cost of upgrades such as better insulation, energy-efficient heating systems, and high-performance windows and doors. To qualify, homeowners must complete an EnerGuide home evaluation before and after the improvements to ensure eligibility, of which $600 is covered by the grant.
In the last federal budget, it was announced that a new version of the Canada Greener Homes Grant will be put in place that includes changes in who qualifies (to include tenants in addition to homeowners) and how the funds are dispersed.
Canada Greener Homes Loan
The Canada Greener Homes Loan is an interest-free financing option to help homeowners undertake larger-scale, energy-efficient home improvements. Offering loans between $5,000 and $40,000 with a 10-year repayment plan, this program supports upgrades such as installing solar panels, replacing outdated heating systems, or enhancing insulation. To qualify, homeowners must complete an EnerGuide home evaluation and be approved for the Canada Greener Homes Grant.
Provincial Energy-Efficient Home Improvement Program
Home Renovation Savings Program (Ontario)
The Home Renovation Savings Program in Ontario is a new initiative aimed at helping homeowners reduce energy costs through targeted upgrades. Scheduled to launch on January 25, 2025, the program will offer rebates of up to 30 percent for energy-efficient renovations, including insulation improvements, high-performance windows and doors, and the installation of heat pumps. The program also covers rebates for solar panel systems and battery storage solutions, making it easier for homeowners to embrace renewable energy.
Investing in energy-efficient home improvements is a win-win for homeowners, offering reduced energy bills, increased comfort, and the satisfaction of contributing to environmental sustainability. With various federal and provincial programs in place, there are plenty of opportunities to make these upgrades more affordable.
If you’re considering buying or selling a home, energy-efficient features can significantly enhance its value and appeal.
SOURCE: https://blog.remax.ca/tax-credits-and-rebates-for-energy-efficient-home-improvements