Geothermal Heat Pump Rebates
Details of the Low Carbon Technologies Incentives plan will be formerly announced very soon by GreenON and IESO. The plan covers both ground source and air source heat pumps including ductless and dependng on the equipment installed covers up to $20,000 of the cost of installation. GreenON estimate the rebates will cover 50-75% of the installed cost.
Ground source heat pump systems include vertical loop and horizontal loop geothermal, desuperheaters and domestic water heater. Rebates are also available to replace existing heat pumps with more efficient units.
Air Source Heat Pumps
Both ductless heat pumps and ducted air source heat pumps are eligible for rebates at various values.
The Ontario government has committed to reduce carbon emmissions and is ploughing back to homeowners the money it has collected in cap and trade carbon tax since the beginning of this year. This is part of the $8.3billion Climate Change Action Plan announced in June 2016.
Full details of the geothermal rebate plan will be announced to the public very shortly.
The Bottom Line
Geothermal heating, cooling and water heating can save significant amounts on your utility bills for years to come. Now is the perfect opportunity to save 50-75% of the cost of installing an energy efficient system. The payback will never be less than it is now. I recommend you contact us as soon as possible to get a quote and a head start as these incentives are only available for a limited time.
More details to follow shortly.