Are you looking to improve the energy efficiency, comfort, and sustainability of your apartment or condo building? The Multi-Unit Residential Building Retrofit Program, launched in September 2024, offers exciting opportunities for multi-family building owners in British Columbia to enhance their properties while saving on costs. This initiative, brought to you by BC Hydro and the Government of B.C., provides a range of rebates and support to help reduce greenhouse gas emissions and energy consumption.
By taking part in the Multi-Unit Residential Building Retrofit Program, you can:
Lower energy bills: Energy efficiency upgrades mean significant savings on electricity and heating costs.
Increase property value: Modernizing equipment not only improves the lifespan of your building but also makes it more appealing to potential buyers and tenants.
Boost comfort and resilience: Energy-efficient windows, heat pumps, and other upgrades can make your building more comfortable and better equipped to handle extreme weather.
Key Offers Available
Opportunity Assessment Funding
Kickstart your energy upgrade journey with a high-level assessment of your building by a professional energy consultant. This assessment will help identify potential improvements, such as high-efficiency heating and cooling systems, solar integration, or EV charging readiness. You can receive funding for up to 100% of the assessment costs, to a maximum of $5,000.
Feasibility Study Funding
Dive deeper with an in-depth analysis of a specific system in your building, whether it’s lighting, heating, or ventilation. This detailed study will provide the information you need to plan your retrofit project and evaluate its potential benefits. Funding covers up to 100% of the study’s cost, to a maximum of $30,000.
Rebates for Equipment Upgrades
Offset the cost of retrofitting your building with energy-efficient equipment, including heat pumps, high-efficiency windows, LED lighting, and water heating systems. Rebates are available for both buildings heated by electricity and those using natural gas, oil, or propane. For example:
Heat pumps: Up to $1,200 per ton of capacity for electrically heated buildings or $3,600 per ton for natural gas-heated buildings.
Windows: Receive $30 per square foot for high-efficiency windows.
Ventilation make-up air units: Up to $6,000 per ton of capacity.
Rebates for Solar Panels and Battery Storage
Looking to boost energy independence and further reduce energy costs? Now, you can take advantage of rebates for installing solar panels and battery energy storage systems. As of July 23, 2024, you can receive:
Solar Panel Rebates: Up to $25,000 for grid-connected solar photovoltaic (PV) panels, with $1,000 per kilowatt (kW) of installed capacity. The rebate is capped at 50% of the total installed cost, including labor and materials.
Battery Storage Rebates: Up to $25,000 for battery energy storage systems, with $500 per kilowatt-hour (kWh) of installed capacity. The rebate is capped at 50% of the total installed cost, including labor and materials.
By combining solar panels and battery storage, you’ll not only increase your building’s energy resiliency but also lower your electricity bills. With these upgrades, your property can harness renewable energy for use during cloudy days, overnight, or during power outages.