As part of the Government of Canada’s Economic Action Plan, the ecoEnergy Retrofit – Homes Program has been expanded to aid 200,000 homeowners in covering the cost of making their homes more energy efficient. The time-sensitive program includes a $300 million increase in funding over two years. In other words, the program provides non-taxable grants to those that have carried out renovations that improve the energy efficiency of their property.
The question is: Does your property qualify? The grant is offered to owners of low-rise residential properties. For example; single detached and attached homes, small multi-unit residential buildings (including apartment buildings of three storey’s or less), mobile homes that are on a permanent foundation and floating homes that are permanently moored all are eligible for the grant. The only restrictions on the types of homes mentioned are the age of the home so make sure your home is not newly built and has been occupied for more than six months. Even if you are in the process of building a house you will not be entitled to the program because the idea behind the grant is to help older homes adhere to a greener energy condition.
The good news about ecoEnergy Retrofit – Homes Program grant is that you can do the work yourself, provided that prior to commencing the work you receive a pre-retrofit energy assessment by a certified energy advisor. You can also receive the grant even if you’ve already received the Home Renovation Tax Credit. Also, the ecoEnergy Retrofit – Homes grant is not taxable on your personal income.
Once you’ve had your home assessed, please note that you have only 18 months to complete your renovations. Be aware that ecoEnergy Retrofit – Homes grant is only offered for renovations fulfilled after April 1st, 2007.
How much are you entitled too once you’ve completed the suggested retrofits as counseled by the energy advisor? The grant is estimated at over $1,000 for a single property. The maximum grant available for one home is $5,000. If you own more than one residential property then you are permitted to collect up to $500,000 until the program ends March 31st, 2011.
Finally once you’ve completed all your renovations a post-retrofit evaluation is a must. The energy advisor will complete a grant application form on behalf of the homeowner. Don’t worry, you get to review and sign the document before it is submitted NRCan (Natural Resources Canada). You will receive a cheque approximately ninety days following post-retrofit appraisal.