In Quebec, because of rent control, we can say that an owner's investments in renovations—and I am not talking about energy-saving renovations specifically but renovations in general—will be covered over 30 years in the form of rent increases. That is the only way owners can recoup that money, without grants.
In many cases, the useful life is over after 30 years. Obviously, that is not the case with wall insulation. The fact remains that the return on investment is so far in the future that it is difficult to see how the housing stock can be renovated without programs. Although extremely effective retrofits could be undertaken, they will most likely be disregarded. Owners will opt instead to do the bare minimum with the resources they have. Keep in mind that in Quebec, owners do not have hundreds of units. They are not companies but working or retired people. They have a small number of units and modest financial means.