The Crown corporation has launched a new refund program for Canadians
Canada Mortgage and Housing Corporation has announced a new and improved version of its Eco Plus energy efficiency refund program for Canadians who have purchased or erected energy-efficient homes.
“If you have bought or built an energy efficient home on or after June 20, 2022 and have CMHC mortgage loan insurance, you can apply for a 25% partial premium refund on your insurance premium if your home meets the Eco Plus energy efficiency requirements,” CMHC said.
The previous iteration of the program offered refunds from 15-25%, but the latest Eco Plus ensures that all applicants who meet its requirements will be eligible for the higher 25% refund.
“This means more savings for homeowners as they take part in the fight against climate change,” CMHC said.
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Eligible properties are those with energy efficiency levels that are at least 20% lower than the average new home, and those that fall within the top 15% of the housing stock in terms of having the lowest greenhouse gas emissions.
“Climate change is transforming our economy and has broad implications for housing affordability. To cope with the risks and challenges of climate change, CMHC is developing solutions, such as the enhanced Eco Plus program, that incentivizes homeowners to choose housing that is low-carbon and resilient,” said Steve Mennill, chief climate officer at CMHC.
CMHC Eco Plus is in keeping with the federal government’s plan to achieve net-zero by 2050, the Crown corporation said.
The full list of Eco Plus criteria, along with applicable green building certifications, can be viewed at cmhc.ca/ecoplus.
