The Renewable Energy Initiative has been introduced as a first step in a program application process, through funding of $70 million for energy efficiency upgrades of existing social and new affordable housing projects. Announcements will be made this spring on requests for quotations from suppliers and on the application process so that organizations can apply for funding.
The federal and provincial governments are contributing equally to this investment as part of the Government of Canada’s funding announced under Canada’s Economic Action Plan for Ontario. This will lead to improved energy efficiency and support the purchase and installation of renewable energy systems in existing and new affordable housing that are capable of generating energy and selling surplus energy back into the electrical grid.
The funding for the announcement is part of a joint investment of more than $1.2 billion over two years through an amendment to the Canada – Ontario Affordable Housing Program Agreement which was announced in June 2009.
Canada’s Economic Action Plan provides over two years $850 million for the renovation and retrofit of existing social housing, plus a further $475 million to build new rental housing for low-income seniors and persons with disabilities. These new housing investments also address Canada’s goals with respect to climate change and the environment. Overall, the Economic Action Plan includes $2 billion for new and existing social housing, plus up to $2 billion in loans to municipalities for housing-related infrastructure. Canada’s Economic Action Plan builds on the Government of Canada’s commitment in 2008 of more than $1.9 billion, over the next five years, to improve and build new affordable housing and help the homeless.
Ontario is investing $704 million to repair eligible social housing across the province. In addition, the province has already approved more than $382 million for construction-ready projects, which will improve access to affordable housing for low-income families, seniors and persons with disabilities across the province