$900 million to be invested for retrofits in social housing, apartment buildings

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Ontario will be investing up to $900 million over four years from cap and trade proceeds to support people who rent by retrofitting social housing apartments and providing grants and rebates for residential multi-tenant buildings.

The province will invest up to $500 million to retrofit social housing apartments with energy efficiency and renewable energy technologies such as energy-efficient windows, and thermal insulation on piping and other mechanical systems. This is part of f the Climate Change Action Plan, which will be released this spring,

In addition to reducing emissions, this would improve comfort for residents and save money for social housing providers to make other capital improvements. Indigenous social housing would also be eligible for retrofits under this program.

Ontario will also help improve energy efficiency in private residential apartment buildings by investing up to $400 million in an incentive program that will offer rebates or grants toward the purchase and installation of energy efficient technologies, like boiler replacements and lighting retrofits.

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To ensure that carbon pricing does not negatively impact tenants and that private building owners take advantage of retrofit programs, the province will also consult on and develop options to make it illegal to pass these costs onto tenants.

Through the Climate Change Action Plan, Ontario will ensure cap and trade proceeds are invested in a transparent and accountable way back into projects that fight climate change by helping households save money on their energy costs, creating good jobs in sectors like clean-tech and construction, and helping small- and medium-sized businesses reduce greenhouse gas pollution. – CINEWS

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