Making the decision to invest in a new heating and cooling system for your home is a big one. The financial expense that comes along with your new system is significant. Fortunately, the federal government of Canada has released many new rebate programs that can allow you to put money back into your wallet.
Greener Homes Grant Program
Since May 27, 2021, Canadians have been able to receive a rebate up to the amount of $5,000 for home renovations that enhance energy efficiency. As part of receiving this grant, homeowners must have both a pre- and post-upgrade energy audit done by a certified energy advisor. This helps to ensure the effectiveness of a potential upgrade before having it installed in your home.
Above and beyond the $5,000, homeowners can even enjoy up to a $600 credit toward the cost of these home evaluations. This rebate program is intended to last for up to seven years, and up to 700,000 grants will be authorized. You can apply for this program via the Natural Resources Canada website.
Heating System Rebates
Heating makes up about half of every Canadian’s annual energy bill. Upgrading to a more energy-efficient system will not only bring you excellent energy savings over the coming years, but it can also qualify you for one of the many heating system rebates.
These rebates are available to homeowners who have upgraded their heating system within the last 180 days. Rebates range from a low of $150 to a high of $2,500, depending on the specific upgrade purchased. They are intended for residents who utilize certain types of heat for their homes, including wood-pellet, solar-thermal and heat pump systems. You can find an application for this particular rebate by visiting Efficiency Nova Scotia’s website.
CleanBC Home Efficiency Rebates
When you opt for replacing your old heating system with one that is more energy efficient, you could qualify for the CleanBC rebate. Simply replacing an old gas boiler with an ENERGY STAR boiler can provide you with a rebate of $1,000. Combining that boiler purchase with an investment in a combination heating and hot water system could qualify you for a total rebate of $1,500.
It’s important to note that only certain models are eligible for this rebate. You can search whether or not your new system will be eligible on the CleanBC website. In addition, the system must be installed by a licensed contractor with a GST number.
Connect to Gas Rebate
If you’re looking to install a wall furnace in your existing home, you could qualify for the Connect to Gas rebate. This program can provide you with a rebate amount of up to $700. You’ll need to have the furnace installed by a licensed heating professional and submit a pre-qualification application before installation gets underway. Only certain furnace models are eligible for this rebate.
FortisBC Home Heating Rebates
When you decide to upgrade your old natural gas furnace for one of the many eligible ENERGY STAR models on the market, you can qualify for a sizeable rebate. Rebates range up to $1,000 per home heating system. You can even cash in on an additional $150 if you have a smart thermostat installed with your new ENERGY STAR natural gas heating system.
Home Renovation Tax Credit
The Home Renovation Tax Credit is one of the larger rebates that you could qualify for. It allows you to claim a tax credit of 10.5% of the total expenses of your home renovation project. Qualifying expenses include the purchase of a new heating and cooling system for your residence.
The total eligible expenses for the Home Renovation Tax Credit can’t exceed $20,000. This means that eligible parties can claim up to a total of $2,100 in income tax savings per renovation. This particular tax rebate program is overseen by the Canada Revenue Agency (CRA).
Home Ownership Preservation Program
If your home is in need of a new heating system, you may be eligible for grant funding through the Nova Scotia Home Ownership Preservation Program. This program provides various levels of funding to Nova Scotia residents who are looking to repair the structural areas of their homes, including their heating system.
You can apply for this grant program via Housing Nova Scotia. It is vital to realize that part of receiving this grant funding is that you must reside in your home for an additional 10 years after the upgrade is completed.
The Senior Citizens Assistance Program
This government grant is solely available to citizens who are at least 65 years old. Grants of up to $6,500 are offered to upgrade home heating systems. To be eligible for this grant, you must have lived in your home for at least one year and be below the established income limit set by the Senior Citizens Assistance Program.
Energy Savings Rebate Program
As part of the country’s effort to lower its carbon footprint, the government is authorizing in-store rebates for energy-efficient purchases. When it comes to your new heating and cooling system, you can enjoy a couple of nice rebates. These include a rebate for purchasing an ENERGY STAR heating and cooling system and up to a $100 rebate for investing in a new smart thermostat.
Homeowner Residential Rehabilitation Assistance Program
Nova Scotia residents can receive up to $18,000 in the form of a forgivable loan. These funds can be utilized to purchase upgrades for a home heating system. Eligible residents are those who earn below the acceptable level established by the Homeowner Residential Rehabilitation Assistance Program.
Your Energy Rebate Program
Under this government program, area residents can get rebates on their energy bills. This rebate is equal to the harmonized sales tax (HST) in Nova Scotia. Whenever you purchase fuel from an HST registered vendor, the rebate can be automatically applied to your bill. If not, you can seek credit for the rebate up to 24 months from the date of your fuel purchase.
Your Energy Rebate program works for all different sources of residential fuel. These include home heating oil, firewood, propane, natural gas, coal, kerosene, electricity and even wood pellets. This program is intended to help offset the rising cost of energy for Nova Scotia citizens.
Home Renovation Program
The Home Renovation Program is an assistance program that provides homeowners with forgivable funds to carry out renovations and major repairs on their property. This program will offer funds up to $65,000 for eligible homeowners. The amount a homeowner receives will be highly dependent on their income in comparison to the sliding scale established by the Homeownership Program Income Eligibility Limits.
Reliable Professional HVAC Services
Shines Energy is Dartmouth’s dependable HVAC service provider. We offer heating, cooling and indoor air quality installation, repair and maintenance for all the residents of this area. Our team also provides hot water heater and refrigeration services. If you want to learn more about available rebates for a new heating and cooling system or you wish to schedule a service appointment, call us today.