Ontario has announced initiatives to help homeowners save money on home renovations and improvements.
The province said the plan is to spend billions of dollars in the next 12 years to launch new energy efficiency programs, including the new Home Renovation Savings Program, to help families and businesses save money.
The programs are part of a new $10.9 billion, 12-year investment in energy efficiency, the largest in Canadian history, said a Queen's Park news release.
“As the demand for electricity continues to rise, we’re giving families and small businesses more ways to save money and energy as we launch the largest energy efficiency program in Canadian history,” said Stephen Lecce, Ontario Minister of Energy and Electrification.
He said the new Ontario Home Renovation Savings Program will put more money back in people's pockets, covering up to 30 per cent of the costs.
Ontario's Home Renovation Savings Program will launch on Jan. 28, and offer rebates of up to 30 per cent for home energy efficiency renovations and improvements, said the news release.
This would include new windows, doors, insulation, air sealing, smart thermostats and heat pumps, as well as rooftop solar panels and battery storage systems for people who want to generate and store energy at home.
Later in 2025, the program will expand to include rebates for energy efficient appliances, including refrigerators and freezers.
The government’s Affordable Energy Act, which came into force on Dec. 4, ensures the new Home Renovation Savings Program, and other program offerings, will be expanded to homeowners who heat their homes by propane and oil, instead of being restricted to those who heat with electricity, as it was under previous governments, said the release.
Well-known home renovations television host Mike Holmes said he was pleased with the plan.
“For 20 years I have spoken on my television shows about investing smartly in homes and businesses, with energy efficiency as a top priority for any renovation or retrofit,” said Holmes, who is also founder and president of the Holmes Group.
“Now, the Ontario Home Renovation Savings Program will make those investments easier, more affordable, and support our province's future energy sustainability and planning efforts. I hope all Ontarians educate themselves more on the benefits of this program and use it to reduce their energy costs today and tomorrow.”
The province said it is also expanding the popular Peak Perks initiative with a new program specifically targeted to small businesses, including convenience stores and restaurants. Businesses will receive a financial incentive of $75 upon initial enrollment in the program and $20 per year for each eligible smart thermostat connected to a central air conditioning system or heat pump unit, said the news release.
In addition to the two new energy efficiency programs, the province said it will continue to support 12 Save on Energy programs, including the highly popular Retrofit Program for business, as well as other programs geared to low-income households, businesses, municipalities, institutions, the agricultural sector, industry and on-reserve First Nations communities.
In the coming years, the investment is expected to pay off with Ontario becoming more electrically efficient, said the release.
“By 2036, it is forecasted that this expansion of energy efficiency programs will reduce the province’s peak demand by 3,000 MW – the equivalent of taking three million homes off the grid,” said the release.
“The province’s $10.9 billion investment is also estimated to result in $23.1 billion in electricity system benefits, thereby saving ratepayers $12.2 billion in electricity system costs by avoiding the build out of new generation,” the release continued.
