Energy Efficient Home Renovation Loan
There are many eco-friendly options that help you to both minimize your carbon footprint and reduce your energy bills! See the difference when you make energy efficient investments into your home:
- Replace oil furnaces or low-efficiency systems with a high-efficiency furnace, air source heat pump, or geothermal heat pump.
- Purchase better wall or basement insulation and/or wall or roof panels.
- Install a high-efficiency water heater or on-site renewable energy like solar panels.
- Replace drafty windows and doors.
You have many financing options and incentives to make your green home renovations more affordable.
With Canada Mortgage and Housing Corporation (CMHC) and their CMHC Green Home program, energy-efficient housing is now more affordable with mortgage loan insurance. CMHC Green Home offers a partial refund on the cost of mortgage loan insurance. Buy, build, or renovate for energy efficiency and you may be eligible for a refund of up to 25% of your premium!
The Federal government has also proposed further incentives that can help you undertake retrofits identified through an authorized EnerGuide energy assessment. In combination with available grants, these loans can help you make deeper, more costly retrofits that have an even bigger positive impact in energy efficiency. More than 200,000 households can take advantage of this unique saving opportunity.