The federal government has launched the first phase of its plan to offer interest-free loans to Canadians planning upgrades that will have a significant impact in reducing their home’s environmental footprint.
The program will provide interest-free loans of up to $40,000 per household to help finance eligible retrofits.
The first phase is open to eligible homeowners who are applying or have an open application to the Canada Greener Homes Grant. The second phase will begin in early September.
"The environment and the economy go hand in hand," said Minister of Housing and Diversity and Inclusion and Minister responsible for Canada Mortgage and Housing Corporation Ahmed Hussen. "Today's investment will go a long way to help Canadians live more comfortably, by improving the energy efficiency of their homes while reducing our collective environmental footprint. This will also stimulate our economy by creating good jobs for the middle class. This is the National Housing Strategy at work."
The program will expand the eligibility to homeowners who have already received a grant or requested a post-retrofit EnerGuide evaluation, but still have remaining eligible retrofits they are interested in doing, that have not yet started.
The Canada Greener Homes Loan program is an designed to help up to 175,000 eligible homeowners.
This report by The Canadian Press was first published June 17, 2022.
With files from CityNews Ottawa.