Return of retrofit program for homeowners
Natural Resources Minister Joe Oliver recently announced the renewal of a retrofit program to help homeowners green their properties and perhaps lower their home insurance rates at the same time.
Vince Laberge, President of the Canadian Home Builders' Association, applauded Oliver for the move.
"This announcement will be well received by both our industry and Canadian households," said Laberge. "It means that homeowners can start making their homes more energy efficient, right away."
CHBA says the renewed program should encourage more homeowners to hire professional renovators, which should help bolster the country's economy and further its role as a world leader in green technology, development and implementation.
"The residential sector is already a leader in reducing greenhouse gas emissions, and this federal government commitment will help homeowners achieve even more," said Laberge. He went on to say increasing energy efficiency helps homeowners save money.
Home insurance companies take a variety of factors into consideration when assessing rates, some of which may include the utilities installed when a home is built or renovated. This means renovations may wind up helping homeowners save on their insurance premiums.