The Ontario government has announced a significant investment in energy efficiency, launching a new program that will provide rebates to families for home renovations and upgrades. This program is part of a larger $10.9 billion commitment, aiming to reduce the province's peak demand and save ratepayers billions of dollars.
The Ontario government unveiled a new program on Friday designed to assist families in saving money on their energy bills. This initiative forms part of a substantial $10.9 billion, 12-year investment in energy efficiency, marking the largest such commitment in Canada's history, as stated by Thunder Bay-Atikokan MPP Kevin Holland.
Holland emphasized that the demand for electricity in Ontario is experiencing rapid growth, fueled by population expansion, heightened industrial activity, and the emergence of innovative technologies. He characterized this growth as presenting both challenges and opportunities.The Home Renovation Savings Program, scheduled to commence on January 28th, will provide rebates of up to 30 percent for home energy efficiency renovations and upgrades. These include a $600 credit for a home energy assessment, $100 per new window and door, and up to $8,900 for insulation. Holland asserted that this program will directly benefit homeowners by reducing their homes' carbon footprint, lowering monthly energy expenses, and potentially increasing their property value.Later this year, the program will expand its scope to encompass rebates for energy-efficient appliances, such as refrigerators and freezers. Furthermore, the government's Affordable Energy Act will ensure that the Home Renovation Savings Program, along with other initiatives, will be extended to homeowners whose residences are heated by propane and oil, rather than being limited to those who utilize electricity for heating. Holland projected that this expansion will prevent anyone from being excluded as the province transitions towards a more energy-efficient future. It is estimated that by 2036, this expansion will decrease the province's peak demand by 3,000 MW, equivalent to removing three million homes from the grid. In addition, the province is expanding its popular peak perks program with a new initiative specifically targeted towards small businesses. Businesses will receive a financial incentive of $75 upon initial enrollment in the program, along with an additional $20 per year for each eligible smart thermostat connected to a central air conditioning system or heat pump unit. The province's $20.9 billion investment is projected to yield $23.1 billion in electricity system benefits, resulting in savings for ratepayers of $12.2 billion in electricity system costs. Stephen Lecce, Minister of Energy and Electrification, stated that the aim is to minimize the strain on the grid while simultaneously saving consumers money. He instructed those interested in utilizing the program to visit saveonenergy.ca, upload their receipts, and they will receive reimbursement within 60 days
ENERGY EFFICIENCY SAVINGS PROGRAM HOME RENOVATIONS ONTARIO GOVERNMENT ELECTRICITY DEMAND
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