MAKE HOMES MORE ENERGY EFFICIENT TO REDUCE ENERGY BILLS AND CREATE JOBS
Canada News Wire
OTTAWA, Ontario, June 17, 2022
OTTAWA (ON), June 17, 2022 /CNW/ – By helping Canadians retrofit their homes to be more energy efficient, the Government of Canada makes life more affordable, creates good jobs, and creates a greener, cleaner environment for generations to come.
Today, the Honorable Ahmed Hussen, Minister of Housing and Diversity and Inclusion and Minister Responsible for Canada Mortgage and Housing Corporation (CMHC), announced the launch of the new homeowner stream Canada Loan for Greener Homes. This program will provide $4.4 billion in interest-free loans, up to $40,000 per household and will be available for Canadians to undertake eligible renovations.
The Canada Greener Homes Loan is being launched in two phases. The first phase, starting on June 17, 2022, will be open to eligible homeowners who apply or have an open application (pre-renovation stage) for the Canada Greener Homes Grant. The second phase, starting at the beginning September 2022will expand eligibility to homeowners who have closed their application (those who have applied for their post-renovation assessment or grant), but still have qualifying renovations they wish to pursue, which have not yet begun.
The Canada Greener Homes Loan is an inclusive program designed to help up to 175,000 eligible homeowners undertake deeper, more expensive renovations that will have a significant impact on reducing a home’s environmental footprint and energy bills. house and on improving the resilience of the house.
The Canada Greener Homes Loan is part of the Canada Greener Homes Initiatives. The program builds on the Canadian Greener Homes Grant offered by Natural Resources Canada (NRCan) to help Canadian homeowners across the country improve the energy efficiency of their homes. Canada Greener Homes initiatives help eligible homeowners make their homes more comfortable and affordable to maintain while supporting from Canada environmental goals, plans and targets for climate change. These renovations will also help stimulate the economy by creating good, middle-class jobs in communities across the country.
Since its launch in May 2021, the Canada Greener Homes Grant has helped homeowners across the country renovate their homes while creating good jobs for Canadians. From June 8more than 171,000 applications were received via the national portal, tens of thousands of files from eligible owners of our partner programs in Quebec and New Scotland are being processed; $38 million in grants were sent to more than 10,000 Canadians.
In addition to the homeowners grant and loan, the Government of Canada announced a supplement $458.5 million in funding for the low-income component of the Canada Greener Homes Loan Program through the Emission reduction plan (ERP) on March 29, 2022. The additional funding will allow affordable housing providers to make major energy retrofits with beneficial long-term financing and financial support. These renovations will help mitigate climate change while improving the quality of life for residents living in affordable housing. The additional funding will go to affordable housing providers such as non-profit housing and housing co-ops.
More details on eligibility and how to apply for the Canada Greener Homes Loan are now available on the website.
Additional details on funding for affordable housing providers will be available at a later date. To register and get more information, go to website.
“The environment and the economy go hand in hand. Today’s investment will go a long way to helping Canadians live more comfortably, improving the energy efficiency of their homes while reducing our collective environmental footprint. It will also stimulate our economy by creating good jobs. for the middle class. This is the National Housing Strategy in action. – The Honorable Ahmed Hussen, Minister of Housing and Diversity and Inclusion and Minister Responsible for Canada Mortgage and Housing Corporation
“Canadians are looking for ways to save money on their energy bills and do their part to fight climate change. We stimulate economic activity and create jobs by helping Canadians improve the energy efficiency of their homes. Canada Greener Homes initiatives are good for your wallet, good for the economy and good for the planet.” – The Honorable Jonathan Wilkinson, Minister of Natural Resources
As from Canada authority on housing, CMHC contributes to the stability of the housing market and the financial system, provides support to Canadians in need and provides impartial housing research and advice to all levels of Canadian government, consumers and the housing industry. CMHC’s goal is that by 2030, everyone Canada has an affordable home that meets their needs. For more information, follow us on Twitter, instagram, Youtube, LinkedIn and Facebook.
Buildings, including houses, account for 13% of from Canada greenhouse gas emissions. Taking into account space and water heating as well as electricity consumption for air conditioning, lighting and appliances, this brings the total to 18%. Renovating existing homes is an effective way to reduce greenhouse gas emissions.
Budget 2021, through the Canada Greener Homes Loan, provides $4.4 billion in interest-free loans of up to $40,000 to help up to 175,000 homeowners with major home renovations.
The Canada Greener Homes Grant, launched last year, serves as a starting point for homeowners looking to take advantage of the new loan program. These complementary programs are designed to help Canadians make their homes more comfortable and affordable to maintain while supporting from Canada environmental goals and job creation in communities across the country. New applicants who are eligible for the grant and who have completed an EnerGuide certified evaluation and have not started their renovations can choose to apply for the loan to further finance their home renovations.
To apply for the Canada Greener Homes Grant, homeowners can go to on line to record, plan and document their progress, including requesting EnerGuide evaluations, choosing from a list of eligible renovations, and refund request. Residents of Quebec and New Scotland must apply directly through their provincial programs to book their EnerGuide evaluation and register. If a homeowner chooses to apply for the loan in addition to the grant, they must ensure that they do not begin their renovations before being approved for the loan.
The loan program is designed so that eligible homeowners can receive between $5,000 and $40,000 interest-free loan to be repaid over 10 years. The initial loan amount is based on the estimated costs of the planned renovations, less the estimated grant amount, and adjusted to reflect market standards.
To participate in these initiatives an owner’s principal residence must be at least six months old, from the date of occupancy by the first owner, and be eligible for an EnerGuide evaluation. Residences include single and semi-detached homes, townhouses, townhouses, mobile homes on permanent foundations, permanently moored floating homes, small multi-unit residential buildings (up to three stories with a footprint going up to 600m2), and mixed-use buildings (residential part only). Renovations that help protect homes against weather events – such as flooding, wind damage and power outages – are also eligible for the grant if carried out in combination with measures that improve energy efficiency. .
Loans are distributed after a homeowner’s renovations are completed and both EnerGuide evaluations are completed, and the necessary documentation is uploaded to the Greener Homes portal. Homeowners must make equal monthly payments over a ten-year loan term. However, they will also have the option of making full or partial payments at any time without penalty to enable faster repayment of their interest-free loan.
Budget 2022 proposes to provide a supplement $458.5 million over the life of the program to provide low-interest loans and grants to low-income housing providers through the low-income stream of the Canada Greener Homes Loan program. This program will be available at a later date.
Home energy improvements that reduce fuel oil and natural gas consumption will also reduce greenhouse gas emissions while saving money.
The supplement $458 million Funding will not be available to homeowners, who are already served by Canada Greener Homes initiatives.
SOURCE Government of Canada