Significant savings and energy bill cuts coming for Canadians
The federal government has rolled out its new strategy to improve energy efficiency in buildings across the country, claiming it will result in significant savings on Canadians’ energy bills.
According to a news release, buildings are the country’s third-largest emitter of greenhouse gas (GHG) emissions, and nearly all building emissions are from space and water heating.
The new strategy, known as the Canada Green Buildings Strategy, aims to make it easier for some Canadians to make energy-efficient home changes.
It includes the $800 million Canada Greener Homes Affordability Program (CGHAP).
CGHAP is intended to help low-to-median-income Canadians make upgrades to save money on their home energy improvements at no cost and will replace the Canada Greener Homes Grant (CGHG).
The CGHAP uses a “direct install” model that is managed by third parties and the feds claim that this new initiative provides participating households with up to four times more support than the previous grant program.
According to the federal government, the CGHG has already assisted nearly 240,000 homeowners with grants averaging over $4,000 each for various upgrades, including heat pumps and insulation.
Every year a household participating in the CGHG saves up to $400 on their annual energy bill while reducing their emissions by 1.18 tonnes of CO2, notes the federal government.
Additionally, the CGHAP also includes measures to help Canadians switch to electric heat pumps.
The change could help save homes that currently use oil heating systems $1,500 to $4,500 per year on their energy bills by installing a cold-climate electric heat pump.
The feds also plan on phasing out the installation of oil heating systems in new construction by 2028 and are working on a regulatory framework to map out this strategy further.
However, this would include “necessary exclusions” for areas in the country that lack sufficient access to the electrical grid and require standby backup heating fuel.
The Canada Green Buildings Strategy was part of the 2024 Budget.
Follow Channels and Categories