Commercial and multifamily landlords in British Columbia have an extra year to complete upgrades that qualify for the provincial clean buildings tax credit. The newly released 2025 B.C. budget extends the deadline for capital investment to March 31, 2026 and also gives eligible proponents more time to execute the retrofit and conduct required monitoring and verification of energy performance.

The refundable tax credit, which was initially introduced in the 2022 B.C. budget, provides a 5 per cent rebate of eligible expenses that enable a designated reduction in a building’s energy-use intensity. Under the adjusted timetable, landlords will now have until March 31, 2027 to complete the retrofit work, until March 31, 2028 to measure the building’s energy-use intensity and until Sept. 30, 2028 to apply for a retrofit certificate.

“The temporary credit supports the government’s CleanBC plan by incentivizing energy efficiency upgrades that go above and beyond minimum requirements for existing buildings,” the budget document states.