Homeowners applying for the federal government’s interest-free loans to make energy-efficient renovations should look into provincial and municipal incentives for extra support, one energy-efficiency expert recommends.

The federal government launched a long-awaited program in mid-June providing interest-free loans of up to $40,000 for home retrofits — things like replacing fossil fuel heating systems, fixing drafty windows and doors, upgrading wall insulation or installing solar panels.

With rising interest rates, this loan should be enticing to people, but making your home as energy efficient as possible will likely cost more than $40,000, said Brendan Haley, policy director of Efficiency Canada. Depending on the building, you could be looking at over $100,000 in costs, he said.

“I would really encourage anyone looking for support for a retrofit, especially a deep retrofit, to not only think about this program but also to look at provincial incentives and perhaps additional loans,” Haley told Canada’s National Observer.

Deep retrofits are necessary to help cut down on greenhouse gas emissions from homes. Buildings and homes accounted for 13 per cent of Canada’s carbon emissions in 2020, and retrofit programs are part of the federal government’s push to achieve net-zero emissions by 2050. While the upfront cost of these renovations can be daunting, homeowners who take the plunge will save money in the long run by cutting their energy costs.

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