Green Homes: Sustainable Finance for Residential Retrofits

The Conference Board of Canada, August 18, 2021
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Canada’s greenhouse gas emissions from family homes are too high. To help homeowners invest in the necessary deep retrofits of their residential properties, two innovative financing tools—PACE and green mortgages—are discussed.

Document Highlights

  • Single homes, both attached and detached, are responsible for about 7.0 per cent of Canada’s greenhouse gas emissions.
  • Low-carbon building renovations for residential homes need to increase dramatically to reduce this level of GHG emissions.
  • The pool of available investment for retrofitting can be enlarged by connecting fixed-income markets with areas of the real economy central to the low-carbon transition.
  • The part of the fixed-income market dedicated to green investment is growing rapidly.
  • New financing tools, both private and government, will encourage homeowners to invest in deep retrofits of their properties.
  • Property-assessed clean energy (PACE) financing and green mortgages are discussed.

Table of Contents

Key findings
How can homeowners finance the greening of their homes?
We need deep retrofits at scale
We need sustainable finance for deep retrofits Connecting consumers to green capital markets
Property-assessed clean energy (PACE) financing Green mortgages
Appendix A—Methodology
Appendix B—Bibliography

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