The Ontario Home Renovation Rebate is a program which provides financial incentive to homeowners and small businesses. The rebate will be launched on January 28, 2025, and will assist homeowners with energy updation of many items including windows, insulation, heat pumps, doors, ai sealing, rooftop solar panels, battery storage system, and smart thermostats.
This program is the largest in Canadian history because of its 12 years investment of $10.9 billion in energy efficiency. Businesses can receive $75 after enrollment in this program and $20 per year upon eligible smart thermostat which is connected with the central air conditioning system or heat pump unit.
Ontario Home Renovation Rebate
The Ontario Government is planning to introduce a new program for homeowners to improve the energy efficiency of their homes. The Ontario Home Renovation Rebate program is part of a broader $10.9 billion, 12-year investment in energy efficiency, which is the largest in Canadian history. This rebate purpose is to provide homeowners with less energy consumption and lower utility bills.
This program will be launched on 28 January 2025 and it will offer rebates of 30% for home energy renovations and improvements. Homeowners can update many qualifying items like windows, insulation, heat pumps, doors, ai sealing, rooftop solar panels, battery storage system and smart thermostats.
Who is eligible to receive Ontario Home Renovation Rebate?
The eligibility criteria of this program is outlined here as per the announcements. The exact criteria details can be different after the launch of this program so seek official announcements regularly. The most crucial eligibility criteria can be the Ontario residency requirement and the property where the energy home renovation will take place must be in Ontario.
This means this program will target only residents of Ontario and it is expected that Multi-unit residential buildings and commercial properties will not be eligible for this rebate. Homeowners who heat their homes with various energy sources, including electricity, natural gas, propane, and oil will be included in this program.
How much Ontario Home Renovation Rebate will provide?
The Ontario Home Renovation Rebate offers many financial benefits for Ontario residents.
The rebate amount will be based on many factors including the renovation type, project cost, and the specific energy efficiency improvements being made. This initiative is the key step to provide a more energy efficient and environment friendly future.
This rebate will cover the 30% cost of the new renovations for homeowners and a financial incentive of $75 to businesses upon enrollment in the program and $20 per year if they install an eligible smart thermostat which will be connected to a central air conditioning system or heat pump unit.
Energy Minister Stephen Lecce said at the news conference that those who will upgrade their insulation will receive a rebate of up to $8,900 and those who replace their doors and windows will get $100 for each replacement. If we take an example of installing a heat pump that costs $15,000 then you can expect to receive a rebate of up front $4,500.
When will I receive the Ontario Home Renovation Rebate?
Individuals have to do pre-renovation and post-renovation home energy assessment with a certified energy advisor before starting and after the renovation. After submitting the documents and applications for this rebate including invoices, receipts, and proof of payment for the completed renovations, as well as the results of the pre- and post-renovation energy assessments, you can expect to receive your payment within a few months.
After your submission of application, there will be verification of your eligibility and calculation of your rebate by relevant authorities. After the application is approved, the rebate will be issued to the homeowner may be as a direct payment or through another form.
Why will the Ontario Home Renovation Rebate be launched?
There are many reasons behind the launch of Ontario Home Renovation Rebate such as enhancing energy efficiency. You can take advantage of this rebate after its official launch on 28 January 2025. You can also get more comprehensive details of this home renovation rebate in late January.
This program targets the high demand of electricity and its main purpose is to reduce energy consumption and help homeowners and businesses save money on their utility bills. Energy renovations can improve the indoor comfort and quality of homes. You can expect to face reduction in your energy bills.