Upgrading to a newer and energy-efficient furnace or air conditioner may be somewhat expensive, but there are plenty of money-saving reasons to do it anyway. For one, the money you’ll save on your energy bills will, over time, offset the cost of the new unit.
Plus, there are also several home energy rebates that you can claim that will give you money back to help cover part of the cost of your new appliance. Although these rebates are Ontario-specific, there are likely similar rebate programs you can look into in other provinces.
Furnace Rebates for Your Home or Business
The Independent Electricity System Operator offers a variety of rebates through the Save on Energy conservation program, and that includes rebates for furnaces. You can get a $250 rebate when you purchase a high-efficiency furnace.
As long as the furnace is equipped with an electrically commutated motor, you can choose an oil, natural gas, propane, or electric furnace and still be eligible for the rebate. Not only will you reap the benefit of the cost savings, but you’ll also cut your heating costs by up to 25 percent.
Air Conditioner Rebates You Can Claim
The Save on Energy conservation program also includes rebates for air conditioners, and you can save $600 when you purchase a new ENERGY STAR certified central air conditioner for your home or business. The caveats include that the unit must have a qualifying indoor coil, an energy efficiency ratio of at least 13, and a seasonal energy efficiency ratio of at least 18. On top of the $600 rebate, you’ll also save about 20 percent on your cooling bills next summer by upgrading.
Other Energy Rebates in Ontario
Along with the incentives for energy-efficient furnaces and air conditioners, you can also take advantage of other rebates for heating and cooling devices that will make your home more efficient, including:
- You can save as much as $4,000 with the purchase of an ENERGY STAR certified heat pump, as long as the primary heating source is electricity (plus you’ll save an additional 50 percent on your heating costs)
- Save $30 on the electrically commutated motor that’s required to be eligible for the furnace rebate
- You can get a further $50 rebate when you purchase and install a Wi-Fi enabled and remote-operated smart thermostat (plus it’ll cut your energy costs by up to 15 percent)
Claiming Your Rebate
Both Ontario homeowners and small businesses alike can take advantage of these great energy rebates. To get your rebates, the first step is to choose a participating contractor who can help with the installation. Once the eligible appliance or device is installed, the contractor will submit an application on your behalf, and after you confirm your information and details, you can sit back and wait for your rebate cheque to arrive, which can take up to eight weeks.
There are several ways to save through the Save on Energy conservation program, and you can get started today by shopping for your energy-efficient heating and cooling appliances and devices, and by choosing a qualified contractor for the installation.
For more information about the program, please visit www.saveONenergy.ca, or give us a call today at (866) 233-3536.