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While these programs exist to make your home more energy efficient, they also offer financial incentives and energy savings that result in saving money in the long run.

All of these programs are about using less resources and producing less air pollution and greenhouse gases. That means more breathing room for all of us.


Financing and Grants 

In addition to some attractive financing options offered for energy efficient home improvements, there are a number of valuable grants and rebates to offset the incremental costs of making a home improvement more energy efficient. 

The first three financial incentives require you to have an EnerGuide for Houses evaluation before and after your home improvement:

The last two incentives are independent of the ecoEnergy Retrofit Program:

 

ecoENERGY Retrofit Initiative (formerly EnerGuide for Houses)

Before investing in energy efficiency improvements in your home or condo, federal grants are available if you first perform a third-party home energy evaluation through one of the registered evaluators (see below). The federal grants average $1000 per home to a maximum of $5000!

The ecoENERGY program includes two home visits - one before you retrofit and one after. The first home visit includes a visual walk through and measurement of all energy-related components, including windows, doors, heating, ventilation, and insulation. After closing all the doors and windows in the home, the advisor turns on a large fan to identify and quantify the overall air leakage in the building. The advisor then prepares a customized report noting the recommendations for energy upgrades.


Mortgages - Insurance Refund and 35-Year Amortization

The Canadian Mortgage and Housing Corporation offers a 10% refund on its mortgage loan insurance premiums to individuals who use CMHC-insured financing to:

  • purchase an energy efficient home (one with an EnerGuide for Houses rating of 77); OR
  • purchase or renovate a home and make energy-saving renovations (that increase its EnerGuide for Houses rating by at least 5 points to a minimum score of 40).
    In addition, select financial institutions offer a 35-year mortgage amortization for mortgages on homes that meet these same criteria.  By extending the time you have to repay your mortgage, you can reduce your monthly payments by hundreds of dollars (but in the end pay more interest).
    For more information, visit CMHC, call 1-800-668-2642, or visit your local financial institution.
Bright Ideas Financing

Van City's Bright Ideas Financing for home improvements that incorporate energy efficiency by increasing a home's EnerGuide for Houses score by a minimum of five-points offers a choice of incentives:

  • Receive $170 cashback if your energy efficient home improvement is paid for with a re-advance on your mortgage, a VanCity line of credit or your VanCity VISA card;
  • Get a low-interest renovation loan (at prime rate) from $3,500-$20,000 and have up to seven years to pay it back.

For more information, contact 1-888-VAN-CITY or visit Van City's website.

 

BC Hydro Power Smart Program Rebates

Additional rebates and incentives are available on the BC Hydro Power Smart website.

 

Tax Exemptions for Energy Efficient Equipment and Materials

The Province of British Columbia does not charge PST on efficient furnaces, boilers and heat pumps (85% seasonal efficiency or higher), insulation, storm windows, storm doors, weather stripping, caulking, window insulating systems, separate multi-glazed windows and doors (including garage doors) containing multi-glazed windows. 
Taxes should be taken off at time of purchase.
For more information, call the Consumer Taxation Branch at 604-660-4524 in Vancouver, or toll-free at 1-877-388-4440 from elsewhere in the province or download the brochure. 


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