What You Should Know About the Greener Home Program
For Canadians looking to reduce their energy costs and conserve energy, the Greener Home Program is a great option. This program offers incentives to homeowners who make energy-efficient renovations and investments to their homes. Here’s all you need to know about this program and how it can help you save money on your energy bills.
What is the Greener Home Program?
The Greener Home Program was launched by the Government of Canada in 2017 as part of its green strategy. The program is designed to provide incentives for Canadians who invest in energy-efficient upgrades such as insulation, heating systems, windows, and doors. Incentives are provided in the form of tax credits or grants, depending on what type of upgrade is being done.
Who Can Participate?
The program is open to all Canadian homeowners who meet certain requirements. To be eligible for the program, homeowners must own their home, have an annual income that falls within the limits set by the government (which vary by province), and have invested at least $1,000 into energy-saving upgrades within a 12-month period. Additionally, applicants must be able to demonstrate that they have taken steps to decrease their home’s overall carbon footprint—for example, by installing solar panels or switching from electric heating to natural gas heating.
How Much Money Can I Save?
The amount of money you can save through this program varies depending on your province and the type of upgrades you are making. In general, tax credits range from 10% – 25%of total renovation costs while grants can cover up to 30% – 50%. It’s important to note that some provinces also limit how much money you can receive per year so it’s best to check with your provincial government before applying for benefits under this program.
The Greener Home Program provides a great opportunity for Canadian homeowners looking to reduce their energy costs while also investing in green technology solutions. The program offers tax credits or grants depending on what type of upgrades are made and how much money is spent on them. Eligibility criteria vary by province so be sure to check with your provincial government before applying for benefits under this program—you could end up saving hundreds or even thousands of dollars!