On May 27, 2021, the Government of Canada announced the launch of the Canada Greener Homes Grant, a $2.6 billion initiative that aims to help hundreds of thousands of Canadian homeowners pay for energy-saving upgrades. Through the program, homeowners can apply for rebates of up to $5,000 for energy-efficient upgrades in their home, plus an additional $600 to cover the cost of pre- and post-retrofit evaluations.
Key Points: What You Need to Know
- The Canada Greener Homes Grant can be combined with financing solutions so you can increase your average ticket size while being able to sell more at the kitchen table.
- Eligible upgrades include upgrading to energy-efficient heating equipment, smart thermostats, window and door replacements, air-sealing, insulation updates, installation of solar panels, and resiliency measures to protect against environmental damage. Click here for details on each of these upgrades, including how much customers can claim for each.
- Most property types are eligible for the grant, including single and semi-detached homes, townhomes, residential portions of mixed-use buildings, small multi-unit residential buildings (under three storeys), and more.
Keep reading for more information on the Canada Greener Homes Grant and how it can help take your business to new heights.
Combine Financing with the Canada Greener Homes Grant to Drive More Sales
Although the government grant can offer homeowners up to $5,600 for the evaluations and work, most projects will still involve out-of-pocket costs. You can help by offering customers unique financing options, such as the 240-month amortization or 3-month deferral options.
With more affordable monthly payments, your customers won’t have to sacrifice their budget or compromise on the quality or scope of work. This allows them to take on dream projects that maximize the value of their home and help minimize its environmental impact.
Getting Started is Easy. Just Follow These Simple Steps.
- Customers must first register on the Government of Canada website.
- Sign in to book a pre-retrofit evaluation, who will review their home and walk them through potential eligible upgrades.
- The customer can then hire you, a contractor, to complete their chosen projects.
- After the work is finished, the customer can schedule their post-retrofit audit to determine the final value of work. This will be used to calculate how much money the homeowner is eligible to claim through the grant.
- After the post-retrofit evaluation, the homeowner uploads all their invoices and receipts into the grant’s online portal.
- The appropriate grant funds will be transferred into their account.
Some Details to Keep in Mind
Customers must provide proof of ownership using a property tax bill number. They must also be able to demonstrate that the building is their primary residence. Additionally, the home in question must be one of the approved eligible property types.
Talk to your Dealer Relationship Manager today to learn more about the Canada Greener Homes Grant and the best financing products to pair with it.