New Energy Initiatives for Homeowners
Grants are available for homeowners going green. Both provincial and federal
governments have programs designed to encourage energy reduction. By staying up-to- date on the latest programs, you can offer clients valuable
information that could save them money.
Natural Resources Canada (NRCan) is offering a new residential energy
efficiency assessment service to owners of single family homes, including
detached, semi-detached and low-rise multi-unit residential buildings (MURGs)
that are no more than three storeys high. Under the ecoENERGY Retrofit program, property owoners can qualify for federal grants by improving the
energy efficiency of their homes and reducing their home’s impact on the
environment.
HOW IT WORKS
NRCan-certified energy advisors conduct a detailed on-site assessment of the
home’s energy use from the attic down to the basement. They provide a
personalized report, including a checklist of recommended retrofits to improve the energy efficiency of your home and in some cases, to reduce
water consumption. The report also shows the grant amounts for each eligible
upgrade that you can receive by carrying out these energy-saving improvements. The maximum grant you can receive for a home is $5,000.
For instance, if you replace an old natural gas furnace with the most efficient
unit available (92%AFUE or annual fuel utilization efficiency gas furnace with
DC variable speed motor) you could qualify for $1,350 in rebates: $500 (Federal) plus $500 (Provincial) plus $100 from Enbridge plus $250 from the
Ontario Power Authority (Cool Savings Rebate). According to the Ontario
Ministry of Energy, replacing an old system (63% AFUE) with a new high efficiency condensing furnace (93% AFUE) in an average 1,200 square foot,
detached house will result in savings of approximately $450.00 per year.
Because of its high-tech design, a high-efficiency natural gas furnace
squeezes the most heat out of every heating dollar. For every dollar you
spend on energy, it produces 88 – 97 cents worth of heat. It could save up to
24% in energy and related energy costs and will also help insulate homeowners from increasing energy prices.
The high efficiency furnace and many of the other retrofits eligible for rebates
come with a higher price tag, but environmentally conscious homeowners believe the energy cost savings – and reduced greenhouse gas emissions –
are well worth it. Also, from a resale perspective, many potential homebuyers
will view “greener” appliances as a desirable feature.
For more information on the ecoEnergy Retrofit Rebate program visit the following sites:
**Reprinted from the REALTOR EDGE, March 2008, by permission of the publisher.”
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