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Financial Incentives For Environmentally-Friendly Construction

September 24, 2014

Financial Incentives For Environmentally-Friendly Construction

Homeowners have many financial incentives to build or buy environmentally friendly homes. This includes lowering utility bills. A variety of programs are available at the municipal, provincial, and federal levels that are able help homeowners save money. Contact a Montreal general contractor for details about incentives and programs in your area.

The demand for a more energy-efficient home has increased over the past few years. An individual who is looking to renovate, purchase, or engage in a new building project should talk with the representative at a local bank to determine the amount of funds that will be available.

The next step is to hire a home contractor to complete the project. A local renovation contractor may also be helpful.

Many banks will offer various incentives for upgrades that are energy-efficient. Certifications that are used will also affect the incentives that are available. This will include adding Energy Start windows or LEED. The addition of energy-efficient appliances is another way to receive incentives. The addition of energy-efficient components in a home will help to save money in future years. Review the programs that a homeowner or home buyer has available.

National Home Financing Programs

RCB Energy Mortgage Program – Home buyers who purchase any eligible products or services will have the choice or a rebate or a reduced interest rate for a loan. A rebate is available with a home energy audit, if a fixed-rate installment loan is over $5,000. The reduction of the interest rate will be one percent.

Municipal and Provincial Incentives

Homeowners and home buyers need to check with their municipality to determine if any incentives are available. Some incentives may offer some sort of tax relief when building a new home. Rebates on the permits required for home building may also be available when homes meet specific certifications.

Desjardins Credit Union – Homeowners who are interested in renovating their home have the option to receive cash back or a free energy assessment for a “Renoclimat” renovation. A renovation will need to qualify for a $40,000 loan. A loan for a new building project will need to be at least $100,000.

Novoclimat – Financial assistance is available for home buyers purchasing a Novoclimat home.

- A home which meets Novoclimat specifications and is built on-site by a certified contractor can receive $2,000 of assistance.

- $2,000 of assistance is also available when a Novoclimat certified contractor assembles a new home that is prefabricated and Novoclimat certified. Turnkey service is required.

- Homeowners who can do a certain portion of the assembly of a prefabricated home are able to qualify for a performance certificate and $1,500 worth of assistance.

Home Insurance

Desjardins and La Capitale offer various types of discounts on home insurance for any LEED certified home in Quebec.

Dilamco, your Montreal general contractor can provide you with more information.

 

 

 

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