Ever since last summer’s heatwave, a record number of people are looking at heat pumps as a greener way to keep their homes cooler. In fact, at Capture Energy it’s the number one retrofit we’re seeing in home renovations.
If you’re one of the many who have a heat pump on your wishlist, there are some changes you’ll want to know about. As of July 1, 2022, the installation has to be completed by a member of the Home Performance Contractor Network (HPCN) if you want to take advantage of the many rebates that are available. And there is a lot of money out there.
You can get thousands of dollars for switching to a cold climate electric heat pump from a fossil fuel heating source. This includes a $3,000 rebate top-up from BC Hydro and a $3,000 deduction from CleanBC. The federal government also has the Canada Greener Homes Grant, which can get you up to another $5,000. There is a Canada Greener Homes Loan as well that can get you access to up to $40,000 interest-free.
You’ll also want to check with the municipality where you live because some offer even more discounts. For example, some areas have a group rebate code – and the more people who apply using the same group code, the higher the rebate is for everyone.
In addition, this past spring, the B.C. government exempted heat pumps from the provincial sales tax while increasing the PST on fossil fuel heating equipment to 12 percent.
Heat pumps are the most energy-efficient heating and cooling system currently available. They’re three times more efficient than natural gas or electric baseboard heating systems. And according to B.C. Hydro, in warm weather, heat pumps are up to 50 percent more energy efficient compared to a typical window AC unit.
If you want more information on how to qualify for a rebate and the forms you need to fill out, check these links:
https://betterhomesbc.ca/rebates/central-ducted-heat-pump-rebate/
https://www.fortisbc.com/rebates/home/air-source-heat-pump-rebate
http://homeperformance.ca/the-home-performance-contractor-network/
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