Some Residents Eligible for Home Renovation Funding
If you're planning on doing a renovation—a very specific type of reno, to be clear—you might be eligible for some financial support from the province.
The Ontario government recently announced that it's working with the federal government to "take action on climate change and find clean solutions to help homeowners and families save money, reduce energy waste, create jobs and support healthy communities."
In other words, the province is willing to support homeowners when it comes to specific retrofits.
Recently, Premier Kathleen Wynne and Catherine McKenna, Minister of Environment and Climate Change announced a federal investment of up to $100 million to help Ontario residents make energy efficient retrofits to their homes (including apartments, townhouses and low-income housing) and businesses.
The province says the funding will support Ontario's GreenON Rebates program, which helps cover the cost of eco-friendly retrofits.
The province says that, through GreenON, property owners are currently eligible for rebates up to $7,200 in savings on new insulation; $5,000 in savings on replacement windows; $5,800 in savings on some air source heat pumps; and $20,000 in savings on installation of some certified ground source heat pumps.
The investment is supported by the Government of Canada’s Low Carbon Economy Leadership Fund.
GreenON Rebates will help property owners make energy efficient changes such as installing better insulation, high-efficiency ventilation systems and heat pumps, and other devices to save energy and reduce costs.
Ontario says it's investing up to $1.7 billion over the coming years into GreenON to support a wide range of programs, including rebates and programs to help residents and business make environmentally friendly changes.
Revenues from Ontario’s carbon market, which puts a cap on the carbon pollution businesses can emit, are funding the action plan.
The federal government's Low-Carbon Economy Leadership Fund provides $1.4 billion to provinces and territories that have adopted the Pan-Canadian Framework on Clean Growth and Climate Change (PCF), to deliver on commitments to reduce greenhouse gas emissions.
The recent announcement is part of the almost $420 million Ontario is receiving through the Leadership Fund.
Ontario has committed up to $1.7 billion over three years to support a wide range of programs under the Green Ontario Fund (GreenON).
"The environment and the economy go together. That's why the Government of Canada is working with Ontario to put practical climate solutions into action - and creating good, local jobs and economic opportunities in the process," says McKenna. "Investing in energy efficiency pays for itself by saving money, reducing carbon pollution and making our homes and businesses more comfortable and affordable."