In October, Prime Minister Justin Trudeau announced a three-year pause on the carbon tax for home heating oil. This announcement comes with the hope of helping reduce heating costs for lower-income Canadians. The carbon tax exemption applies to the whole country. This is a great opportunity to use the savings to upgrade to a heat pump. Plus, you could also use the heat pump grant and rebates to reduce your costs even further! Find out more here.
Switching from Oil to a Heat Pump
The government said switching from oil to heat pumps could save homeowners up to $2,500 a year on energy bills. With this pause on the carbon tax, combined with other incentives, Trudeau is hoping to help more Canadians make the switch to a heat pump. Long-term, heat pumps offer cost savings and major energy savings. Plus, switching from oil to a heat pump can help the country reduce their carbon emissions.
Oil to Heat Pump Affordability Program
In addition to savings from the tax exemption, you could receive an upfront payment of $10,000 through the Oil to Heat Pump Affordability Program to help you make the switch. This program helps Canadian homeowners who heat their homes with oil transition to a cold climate air source heat pump.
Heat Pump Grants & Rebates
Trudeau also said Canadians living in rural areas will receive higher rebates. This means that the Climate Action Incentive Payment rural top-up rate will be increasing from 10 to 20% of the baseline amount, starting in April 2024.
As for the other heat pump grants and rebates, eligible Canadians can apply for up to $7,800 to help pay for heat pump installation. However, the time to apply is now as applications won’t be accepted after March 2024.
Benefits of Upgrading to a Heat Pump
- You could save thousands of dollars on heating each year.
- Heat pumps help reduce your carbon footprint.
- You get a two-in-one system that heats and cools.
- Customizable, zoned heating and cooling capabilities.
- You can use grants and rebates to make the switch!
The Time to Switch is Now
Between the carbon tax pause and grants and rebates, the time is now! Take advantage of all these savings opportunities and upgrade your home heating to a heat pump before these offers are gone. Upgrading to a heat pump helps you lessen your environmental impact, save energy, and potentially save big on energy costs.
Don’t wait! Install a heat pump in your home using grants and rebates today.
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Team Harding has been Ottawa’s leading home comfort specialist since 1994. We are a family-owned and operated local business and all of our installers and technicians are fully licensed.
