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.The purpose of this plan is to enhance the energy efficiency of new and existing residential and commercial buildings by toughening building codes so as to force property owners and contractors to make all new buildings ‘net zero’ by 2050. Toward this end, the government plans to implement the Building Energy Efficiency component of the ERP. It will propose new building codes intended to reduce the energy consumption of new residential units by -65% and commercial buildings by -59%.
Across the country, the effect of the more restrictive building codes mandated by the BEE will range from a low of $22,144 in New Brunswick to $78,093 in British Columbia. Given that the BEE introduces more restrictive and costly building regulations across the entire country, it will reduce national gross domestic product by an estimated 2% under the base case. Also, by potentially reducing residential building activity, higher house prices could put a damper on construction employment.
Further, because the BEE mainly impacts new construction and does little to the existing housing stock, it will have a marginal impact on greenhouse gas emissions. The revised building codes apply mainly to new homes. Since purchasers of such properties are generally younger with relatively weaker earnings, the new codes will provide a further barrier to lower-income individuals entering the housing market.
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