Greener Homes Initiative Opens New Loan Stream of up to $40,000
June 17, 2022
Today, the Honourable Ahmed Hussen, Minister of Housing and Diversity and Inclusion and Minister responsible for the CMHC, announced the launch of the new Canada Greener Homes Loan homeowners stream. This program will provide $4.4 billion in interest-free loans of up to $40,000 per household and will be available for Canadians to undertake eligible retrofits.
The Canada Greener Homes Loan is launching in two phases. The first phase, starting on June 17, 2022, will be open to eligible homeowners who are applying or have an open application (pre-retrofit stage) to the Canada Greener Homes Grant. The second phase, starting in early September 2022, will expand the eligibility to homeowners who have closed their application (those who have requested their post-retrofit evaluation or grant), but still have remaining eligible retrofits they are interested in pursuing.
This program is built to be stackable with other incentive and rebate programs as conditions apply.
The Canada Greener Homes Loan is designed to help up to 175,000 eligible homeowners undertake deeper, more costly retrofits that will have a significant impact in reducing a home’s environmental footprint, energy bills, and in improving home resiliency.
As of June 8, over 171,000 applications have been received through the program. More details are available on the program website.