$100 million to support energy efficient retrofits in Ontario homes
By Newinhomes on Apr 06, 2018
The governments of Canada and Ontario recently announced up to $100 million in funding to support energy efficient retrofit projects for homeowners.
Catherine McKenna, Minister of Environment and Climate Change, and Kathleen Wynne, Premier of Ontario, announced the funding earlier this week.
“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.”
The funding supports the GreenON Rebates program, an initiative that’s part of the province’s Climate Change Action Plan (CCAP), which is part of the federal government’s Low-Carbon Economy Leadership Fund.
“Climate change is a global threat that requires a united effort from all levels of government,” says Chris Ballard, Ontario Minister of Environment and Climate Change. “The Low-Carbon Economy Leadership Fund is a great example of how the provincial and the federal governments can work together to help people and businesses fight climate change, save money and transition to a cleaner, low-carbon economy.”
The CCAP is a five-year, $1.7 billion initiative supporting energy efficiency rebates for homeowners, businesses, and farmers. Revenue from Ontario’s carbon market supports the CCAP; the province caps the amount of carbon pollution a business can emit and taxes them accordingly.
The Low-Carbon Economy Leadership Fund provides $1.4 billion to go towards reducing greenhouse gas emissions across the country. The announcement of up to $100 million is part of the nearly $420 million Ontario will eventually receive.
“Households across Ontario and Canada are already coping with the effects of climate change,” says Wynne. “We must act now to lower our emissions and decrease our carbon footprint. This support from the Government of Canada will boost the Green Ontario Fund and help homeowners pay for energy efficient technologies that will help us meet our global obligation to reduce emissions and combat climate change.”
Even if you’re buying a new construction home, there is always room to make an energy efficient upgrade! A great resource for potential rebates is Save On Energy, and based on the new funding, we wouldn’t be surprised to see some new incentives popping up soon!
