Top 5 Home Reno Incentives in Ontario
When it comes to home renovations, if you're not thinking about energy efficiency, you're missing out! Not only will it save you money on your energy bills (in the short and long term), making green home improvements can add tremendous value to your home.
We’ve rounded up some of Ontario's top home reno incentives and rebates to help you get started!
1. The Green Investment Fund
Homeowners planning to make their property more energy efficient can apply for incentives through Ontario’s Green Investment Fund. Eligible homeowners could qualify for rebates of up to $2,000, for upgrades including air sealing, weatherproofing, smart thermostats and insulation.
2. Senior’s Home Safety Tax Credit
As a qualifying participant of the Ontario Seniors’ Home Safety Tax Credit, you can claim up to $2,500 annually (25% of a maximum of $10,000 in eligible expenses) for renovations to an eligible senior’s home or property. The full credit can be shared by multiple applicants living in the same residence or claimed by one individual.
3. Enbridge Home Efficiency Rebate
This program provides homeowners with a rebate of up to $5,000 towards energy-efficient home renovations, including insulation, air sealing, new windows/doors, water heaters, boilers, furnaces and home energy assessments. To be eligible, homeowners must complete at least two qualifying upgrades.
4. Home Energy Loan Program
You can get a low interest loan of up to $75,000 from the City of Toronto to cover the cost of your home energy improvements. Eligible upgrades include energy-efficient furnaces, windows, doors, solar PV panels, insulation and more. You may use this program in conjunction with other rebate and incentive offerings.
5. Retrofit Program
In the Retrofit program, you can receive incentives for a variety of energy efficient measures available under three areas: Lighting, HVAC, and Manufacturing and other equipment. To participate, your project must be pre-approved with a minimum incentive of $500. The program is eligible to owners of commercial spaces, industrial facilities, apartment and condo buildings.
Which incentive will you be applying for this year?