Ottawa offers interest free loans for home energy retrofits

Eligible homeowners can get loans of $5,000 to $40,000

Better insulation and triple-pane windows can drastically cut energy use in homes. | Shutterstock

The federal government has launched its promised Greener Homes Loan, which provides funding to have energy assessments done and up to $40,000 in interest-free loans.

The federal budget earmarked  $4.4 billion for energy retrofits of existing homes intended to reduce energy use and costs, including $458.5 million for the Canada Greener Homes Loan program

The first phase of the program starts now. Homeowners can apply to have home energy assessments done.

Homeowners can apply for interest free loans of $5,000 to $40,000 to have energy retrofits done. The loans cover things like insulation and installation of heat pumps.

"Canadians are looking for ways to save money on their energy bills and do their part to fight climate change," Natural Resources Minister Jonathan Wilkinson said in a news release.

"We are driving economic activity and creating jobs by helping Canadians improve the energy efficiency of their homes. The Canada Greener Homes Initiatives are good for your wallet, good for the economy, and good for the planet."

To apply or for more information, visit Natural Resources Canada’s information portal.

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