The Clean Building Tax Credit supports the CleanBC commitment to reduce provincewide emissions by 40% from 2007 levels and aligns with B.C.’s target to reduce emissions in buildings and communities by more than half by 2030.
Prism was invited to speak to local media at the Kitsilano Community Center on July 13th about how we support building owners to retrofit their buildings. The province was making an announcement of a new tax credit that will make energy retrofits for multi-unit residential and commercial buildings more affordable, saving owners 5% on retrofits to help reduce their energy use.
Our president, Robert Greenwald, spoke about the work Prism had completed with the City of Vancouver to retrofit the community centre. The building underwent heat-recovery improvements that nearly eliminated the need for natural gas to heat the facility. It also reduced greenhouse gas emissions by more than 80%.
Damian Stathonikos, president of the Building Owners and Managers Association of B.C. also expressed how the tax credit will help reduce the retrofit cost for building owners and lower energy expenses for tenants.
Selina Robinson, Minister of Finance, acknowledged that the upfront costs of these retrofits can be a challenge for people and the tax credit will help owners invest in cleaner energy retrofits.
George Heyman, Minister of Environment and Climate Change Strategy, shared that “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.”
As always, our team is happy to work with you to evaluate your retrofit needs and help you identify any rebates and incentives you can leverage.
Learn more about the tax credit and eligibility criteria here.
View the full news release here.
Read more about our work with Kitsilano Community Centre here.