Reducing your heating costs when the price of fossil fuels increases
Next year, the Canadian government’s national rising fee on carbon will begin in an effort to meet Canada’s greenhouse gas reduction targets made in Paris in 2015.
What does this mean for you?
All provinces must have a carbon fee starting at a minimum $10 per carbon ton, rising by $10 every year until 2022, and likely beyond.
If you are like most people, your home is heated by fossil fuel, likely natural gas. If you plan to renovate your home, it’s a good idea to ensure that it is well insulated to help you reduce rising costs associated with the rising carbon fee. Gutting walls is a perfect opportunity to install insulation like cellulose or Roxul. It may cost a bit extra compared with inferior products, such as fibreglass batts, but it will help you save in the long run.
You may also have noticed that Toronto is experiencing wet weather of late, including intense storms. According to a study commissioned by the City of Toronto, this pattern will likely continue.
Happily, the City and utilities offer financing and rebates to help you reduce your home’s carbon footprint and secure it from flooding, helping you to save money and improve comfort.
The following is a breakdown of financing and rebates on offer. Be sure to check them out and save!
City of Toronto
- Low interest loans available for home energy improvements
- Loan is attached to the property, not the owner, paid through property tax bill
- Can pay off in full at any time without penalty
- Can apply other incentives to reduce overall cost
- On average, HELP participants have reduced their energy use by 25 percent.
- Green roof projects receive $100 / m2
- Cool roof projects receive $2 – 5 / m2
- The City offers owners of single-family, duplex and triplex residential homes a financial subsidy of up to $3,400 per property to install flood protection devices including a backwater valve, a sump pump, and pipe severance and capping of the home’s storm sewer or external weeping tile connection.
- Backwater valve. Available subsidy: 80 percent of the invoiced cost up to a maximum of $1,250 regardless of the number of devices installed at the property, including eligible labour, materials, permit and taxes.
- Sump pump. Available subsidy: 80 percent of the invoiced cost up to a maximum of $1,750 regardless of the number of devices installed at the property, including eligible labour, materials, permit and taxes.
- Foundation drain (weeping tile) pipe severance and capping. Available subsidy: 80 percent of the invoiced cost up to a maximum of $400 including eligible labour, materials and taxes.
Participants who complete a pre-energy audit through the Home Energy Conservation Program will now be eligible for a $1,600 incentive for participating in the Program.
Participants who reside within the Enbridge Gas Program Delivery Area and who purchase and install a qualifying Smart Thermostat between January 1, 2017 and December 31, 2017 and for the ecobee3 lite between May 10, 2017 and December 31, 2017 are eligible to recieve a $100 incentive. If you are an Enbridge Gas customer, the incentive will be paid as a bill credit on your Enbridge Gas account. If you heat your home with oil or propane, the incentive will be paid in the form of a cheque.
The Home Winterproofing program helps eligible low-income Enbridge customers lower their energy costs and make their home healthier, comfortable and energy efficient. For qualifying customers, your home may have free energy efficiency upgrades completed to reduce your energy costs.
Check the latest incentives to help reduce your heating and cooling bills, offered by Toronto Hydro.
Check the latest coupons offered by Toronto Hydro.
Save on Energy
Upgrading to a high-efficiency heating and cooling system offers more than energy savings. Create a more comfortable home with a more reliable system and you can save up to $325 a year in energy costs.