Feds launch homeowners loan for energy efficiency upgrades

The federal government has launched the Canada Greener Homes Loan homeowners stream to offer $4.4 billion in interest-free loans to Canadians retrofitting their homes. Homeowners are eligible for a loan of up to $40,000 per household.

The loan, through the Canada Mortgage and Housing Corporation, is part of the Canada Greener Homes Initiative, and builds on the grant offered by Natural Resources Canada. With the loan, homeowners will be able to undertake more costly retrofits that can significantly impact their home’s environmental footprint and energy bills, and improve resiliency.

The first phase of the loan has already launched, and is open to eligible homeowners applying or who have an open application for the Canada Greener Homes Grant. The second phase begins in September 2022, when it opens eligibility to homeowners who have closed their applications but still have retrofits to do.

To date more than 171,000 applications have been received through the Canada Greener Homes Grant portal, and over 10,000 Canadians have received approximately $38 million in grants.

Click here for more details on the Canada Greener Homes Loan.

Canada Greener Homes Initiative