Interest-free loans for deep home retrofits

Country / jurisdiction: Canada · Year: 2021 · Status: In force · Level: National · Type: Mandatory

Canada's Budget 2021 outlines a proposal to provide CAD 4.4 billion over five years from 2021-22 to the Canada Mortgage and Housing Corporation (CMHC) to support deep home retrofits.

The programme is expected to help over 200 000 homeowners complete deep home retrofits through interest-free loans worth up to CAD 40 000 per household. Both owner-occupiers and landlords who take an authorised energy assessment identifying retrofits would be eligible under the programme. There will also be a dedicated funding stream available to support low-income homeowners and renters.  Examples of the types of home retrofits eligible under the programme include: - Replacing oil furnaces or low-efficiency systems with a high efficiency furnace, air source heat pump, or geothermal heat pump. - Upgrading wall, roof or basement insulation. - Installing a high-efficiency water heater or on-site renewable energy like solar panels. - Replacing drafty windows and doors  This will complement the programme put forward Canada's 2020 Fall Economic Statement to provide Canadians with one million free energy audits and up to 700,000 grants, valued at up to $5,000, to complete energy efficient home improvements.

Official source: https://www.budget.gc.ca/2021/report-rapport/p2-en.html#117