Federal Budget 2021 – Window & Door Interest-Free Loans
May 20, 2021
CANADA. April 19, 2021 – New Federal Budget “A Healthy Environment for a Healthy Economy” includes interest-free loans worth up to $40,000 to help homeowners and landlords undertake retrofits identified through an authorized EnerGuide energy assessment.
The 2021 budget states that the Canada Mortgage and Housing Corporation (CMHC) will be proposed to provide $4.4 billion on a cash basis ($778.7 million on an accrual basis over five years, starting in 2021-22, with $414.1 million in future years), to the Canada Mortgage and Housing Corporation (CMHC). A large sum of this budget will be allocated to help homeowners complete energy efficient home renovations that include for retrofits interest-free loans up to $40,000. In combination with available grants announced in the 2020 Fall Economic Statement, this would help eligible participants make deeper, more costly retrofits that have the biggest impact in reducing a home’s environmental footprint and energy bills. The program would be available by summer 2021.
What is a Retrofit?
A retrofit occurs when you change or modify something after its original manufacturing process. For example, once your new windows are picked up from our warehouse and installed in your home, anything you do to them after that is considered a retrofit including changing the way it operates or even painting it.
Lower Home Energy Bills Through Interest-free Loans for Retrofits
These loans will be open to homeowners and landlords who take on these retrofits through an authorized EnerGuide energy assessment. Coupled with available grants, this new loan can allow homeowners to make the best choices possible for their home, energy bills and their environmental footprint, while not breaking the bank. Also included in this budget, there is a separate component set aside for low-income homeowners and rental properties serving low-income renters including cooperatives and not-for-profit owned housing.
Easily accessible online, this money will help increase the demand, supply and use of energy efficient products. With more than a projection of 200,000 households to be approved, this program is said to be available by summer 2021.
Window City’s Energy Efficient Window that Qualify for the Government Program
Window City’s Solar Solutions glass options provide several choices to maximize energy savings on windows. Our products meet or exceed the Energy Star requirements in Canada. We are constantly improving our insulating values, with a system that allows us to certify the gas content in each and every unit, by applying our gas right at the time of sealing the unit. The non-conductive Super Spacer (SS) helps to keep the cold or hot from transferring to the interior, and reduces condensation build up in winter. This new loan program will help get our energy efficient products out in the world and collectively reduce our environmental footprint.