Federal Government to Stop Accepting Greener Homes Grant Applications end of March 2024
Canadians still interested in benefiting from the Greener Homes grant program only have until March to take advantage. The federal government recently announced plans to end this initiative early due to higher-than-expected uptake and average payout amounts.
The program will fall short of its original target of helping 700,000 eligible homeowners afford energy-efficient retrofits such as insulation and solar panels over seven years. However, the government will continue accepting and approving applications through March 2024, so it’s not too late to qualify and get up to $5,000 to upgrade your home to be more environmentally friendly.
Why Take Advantage of the Greener Homes Grant?
Beyond reducing your carbon footprint, there are several compelling reasons to consider investing in eco-friendly updates.
1. Cost Savings
The potential to reap long-term cost savings is one of the most significant advantages of energy-efficient upgrades. You can lower your utility bills and save money over time by installing solar panels in Ontario and generating your own electricity. Also, installing Energy Star appliances, getting new windows and doors or using a smart thermostat can make a noticeable difference in your monthly expenses.
2. Smaller Environmental Impact
Energy-efficient homes preserve precious nonrenewable resources. When you use less energy, you can minimize your household’s greenhouse gas emissions and combat climate change. Making these upgrades demonstrates your commitment to environmental sustainability.
3. Increased Property Value
Energy-efficient upgrades can increase your home’s selling price. Often, eco-friendly houses have a higher resale value because many buyers want features like new appliances.
4. Enhanced Comfort and Indoor Air Quality
Improving insulation, sealing air leaks and installing brand-new windows can improve thermal performance of your house, eliminate drafts, reduce unpredictable temperature fluctuations and minimize outside noise. Additionally, energy-efficient upgrades can improve indoor air quality by keeping pollutants and allergens out of your house.
5. Incentives and Rebates
Beyond the Greener Homes program, some enhancements are eligible for credits or rebates to offset the upfront costs and make the investment more approachable. For example, Enbridge Gas offers its customers $4,500 for a hybrid heating system through the Clean Home Heating Initiative, or up to $10,600 through the Home Efficiency Rebate (HER Plus) program.
6. Future-Proofing
As builders increasingly adopt new, eco-friendly building codes and regulations, upgrading your home now ensures compliance with future standards. You can avoid the headache and expense of retrofitting your home later by taking proactive measures today.
7. Personal Satisfaction
Making your home more energy-efficient can provide a sense of pride. Knowing that you have done your part to reduce your environmental impact and use fewer nonrenewable resources is fulfilling and empowering.
A Win-Win for Your Home and the Planet
While news of the Greener Homes grant program ending early may seem like a discouraging setback, the Heating, Refrigeration and Air Conditioning Institute of Canada speculates that the government may be close to accelerating the decarbonization of homes and businesses nationwide with a new climate action strategy. Until then, you can plan for a brighter future by applying for the grant before March and scheduling your home energy audit.
