Although enrolment in the Federal Greener Homes Grant Program will cease in February 2024, the Canada Loan for Greener Homes is still in effect. This financial assistance allows homeowners to borrow up to $40,000 interest-free over 10 years for energy-efficiency renovations.
ELIGIBLE WORK
This financing is valid for work recommended in advance by an energy efficiency advisor and aimed at improving the following elements of the building:
- Insulation
- Airtightness
- Doors and windows
- Ventilation systems
- Space and water heating systems
It also applies to renovations to low-rise multi-unit residential buildings (MURBs). We would also like to remind you that the subsidies offered to MURBs under the Renoclimat program take into account the multiplier corresponding to the number of units in the dwelling (see table).
LOAN TERMS
This is an unsecured personal loan on approved credit.
An advance of up to 15% of the amount borrowed can be paid to start work. The final balance is paid once the renovation work has been completed and verified by a post-retrofit evaluation.
HOW TO BENEFIT FROM THE LOAN FOR GREENER HOMES IN QUEBEC?
- You must first complete a free energy efficiency visit through the Renoclimat program and wait for your reports, including the advisor’s recommendations.
- Once you have obtained the reports, you must register for the loan on the Government of Canada website.
- Upon approval, you may receive an advance of up to 15% of the amount financed to start your renovations.
- Carry out your work, taking care to keep all your invoices and supporting documents.
- Once the work has been completed, you must request an AFTERWORK evaluation from Renoclimat so that an advisor can assess the changes made.
- Finally, you must submit the after-work report and supporting documents to the Government of Canada to receive the balance of your loan.
CHANGES TO THE RENOCLIMAT PROGRAM AS OF MAY1, 2024
As recently announced, changes to the Renoclimat program will take place as of May1, 2024. Now is the time to find out how to obtain the best subsidies for your project needs.