Tax credit available for energy retrofits

The B.C. Government has a new tax credit for building owners looking to make energy retrofits on their buildings.

Building owners retrofitting multi-unit residential and commercial buildings, including office spaces, food retail, and purpose-built rental buildings, to reduce energy use will receive a five per cent Clean Building Tax Credit.

“Building owners want to reduce the energy use of their home, office or retail space but the upfront costs of these retrofits can be a challenge for people,” said Selina Robinson, Minister of Finance.

“This Clean Building Tax Credit will help owners of larger, often older and energy-inefficient buildings invest in cleaner energy retrofits by putting dollars back into their pockets.”

The credit supports work involving building systems such as heating, ventilation, air conditioning and building envelopes.

The refundable income tax credit supports the province’s goal of reducing emissions by 40 per cent from 2007 levels, and reducing emissions in buildings and communities by more than half by 2030.

“Our government is working hard to give people, businesses and communities the supports they need to reduce their energy use – and energy bills – through programs like the Clean Buildings Tax Credit,” said George Heyman, Minister of Environment and Climate Change Strategy.

“Improved energy efficiency means fewer emissions, which is good for our environment and brings our existing building infrastructure closer to net-zero and our climate targets.”

To be eligible for the credit, building owners must work with a certified professional to determine the energy use-intensity of the building has been reduced and is meeting made-in-B.C. targets through a qualified retrofit, prior to applying for certification with the Ministry of Finance. Qualified professionals include architects, a qualified energy adviser certified by Natural Resource Canada, and engineers.

Details on applying for the Clean Buildings Tax Credit can be found on the B.C. Government’s website.

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