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Blog by Kevin Wong

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ecoENERGY Gets $400 Million Boost

The Canadian government said this week it will continue its financial backing of homeowners retrofitting their homes to save on energy costs.

Energy-saving home renovations often pay for themselves, advocates say, but they have been even more appealing with recent government funding.

Unveiling the budget Tuesday, Finance Minister Jim Flaherty confirmed the ecoENERGY Retrofit-Homes Program will be extended by one year with $400 million added in funding the effort. It would otherwise have expired March 31, and the government was not accepting new applications this month until being revived with the new funds.

Homeowners can apply for grants of up to $5,000 toward the cost of energy-efficient improvements. Those improvements include upgrades on insulation and energy efficient furnaces and air conditioners.

Businesses that serviced the upgrades endorsed in the ecoENERGY program are set to benefit as well.