Rebates are Coming
Sunday, October 30th, 2016
In its 2016 budget, the Alberta government earmarked funds for launching rebate programs that would encourage consumers to make energy efficient upgrades in their homes; we are now starting to get details trickling out on some of those programs.
In an October 27 news release, Energy Efficiency Alberta (a government agency) announced three programs that would begin in early 2017, two of which are aimed at residential consumers and one at businesses. The programs would discount and rebate the purchase and installation of energy efficient lighting, appliances, and heating and cooling systems, among other upgrades.
While the details are sparse, this announcement is both welcome and long overdue, as Alberta is the only jurisdiction in North America without energy efficiency rebates for consumers. Alberta had a program that incentivized the purchase of energy efficient residential upgrades from 2009-2012, and that program issued more than 170,000 rebates over the three years worth more than $52 million. In addition to the positive environmental impact, the program led to economic growth and lowered Albertans’ utility bills. A similar initiative was announced by the government in 2014, however it was never realized.
The winter months can be a good time to make upgrades to your home, as trades tend to be less busy, and are therefore more readily available, and companies may offer discounts during slow months. Most businesses providing services like window upgrades, or furnace and hot water tank installation, operate year round despite some peoples’ incorrect assumption that nice weather is needed for these jobs to be completed.
So, now’s a good time to audit your home for what upgrades might make sense. How old is your hot water tank? Your furnace? Your fridge? (Believe me, you do not want to wake up to a warm fridge some morning). Put together a budget, and maybe even line up some estimates, so that when the details of these rebate programs are fleshed out, and the cheques start being cut, you’re ready to go. Sometimes programs such as these have caps, meaning only the first $XX in applicable spending will qualify, so if you’re looking to upgrade your home, don’t miss out.
Want to chat about which upgrades will have the best bang for your buck with regard to the value of your home? Contact me today!
