The federal government (through National Resources Canada) has re-launched their ECO Energy initiative. This federal initiative runs until March 31st of 2012, but could be discontinued at any time, so it is important to sign up to receive a registration number (http://www.oee.nrcan.gc.ca/register or 1-800-622-6232) soon.
As a resident of Old Ottawa East, my current home is over 100 years old. I had always suspected the insulation to be suspect at best. However, after having the Pre-retro fit evaluation, I was not entirely surprised to discover the wall and ceiling insulation was non-existent. Also, it was pointed out that the total number of cracks and gaps in the walls and foundation of my home were the equivalent of having a hole, in the side of the house the size of a a small car!
When the Pre-retro fit evaluation is complete, you are given a report detailing and itemizing the amount the government will compensate you toward upgrading your home. For example, to insulate 3 walls you might receive $1400. For the ceiling $500. They will also include $650 towards an upgraded furnace. In all, the federal government will compensate up to $5000 on various upgrades you implement.
In total, my savings for insulation and a new furnace are over $2500. Given that these improvements were needed anyway, this is a huge savings. There is a chance that the Ontario provincial government could ultimately match funding after the November election. So say tuned. But in the meantime, there is no reason to delay as the more popular the program becomes, the more likely it could end early or run out of cash.
Sign up for your registration number today!
Written by Scott Smeathers, Investors Group
