Canadian homeowners are being urged to act now to take advantage of a new opportunity to save money on home energy retrofits. The Honourable Lisa Raitt, Minister of Natural Resources, announced today that effective today, for a limited time, grants under the ecoENERGY- Retrofit Homes program will increase by 25 percent.
"This is a great chance for Canadians to save money on home renovations that will cut their energy bills for years to come - but I do encourage homeowners to act quickly," said Minister Raitt. "This special increase in grants is for a maximum of two years only, putting money back in Canadians' pockets when they need it most."
As an added incentive, Minister Raitt pointed out that in many cases, homeowners who retrofit their homes to make them more energy efficient could also qualify for the Government of Canada's new Home Renovation Tax Credit, worth up to $1,350.
"This is a great deal for homeowners and it's a great deal for Canadians," said Minister Raitt. "As more people retrofit their homes, they'll be generating economic activity and protecting and creating jobs in communities across the country - and, of course, as we become more energy efficient, we're also reducing emissions."
As part of the Government of Canada's Economic Action Plan, an additional $300 million is being invested in the ecoENERGY Retrofit-Homes program. This will allow as many as 200,000 more homeowners to participate in the program over the next two years, generating an estimated $2.4 billion in economic activity across Canada.
The ecoENERGY Retrofit - Homes program will provide homeowners with grants of up to $5,000 to offset the cost of making energy-efficiency improvements. Grants apply to a range of measures that reduce energy consumption and provide for a cleaner environment, from increasing insulation to upgrading windows and doors. With the 25 percent increase in grants, the program will cover a larger share of the cost incurred by homeowners who carry out retrofits that improve energy efficiency. For example, the eligible grant for a high-efficiency gas furnace will increase to $625 from $500.
To qualify, homeowners must first have a pre-retrofit energy evaluation by a certified evaluator and a post evaluation following the renovations. Funds are available for a limited time (to March 31, 2011) and are subject to availability. Homeowners are encouraged to apply early.
That's a good thing Canada is doing. Similar programs in the US are doing the same thing in order to help families pay their bills and keep warm during winter and cool during the summer.
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