The unseasonable warmth of this fall season, quite similar to last year, is only one of the many serious manifestations of the undeniable and existential threat posed by global climate change, which continues to impact lives here in Canada and around the world.
Thankfully, governments at the municipal, provincial, and federal levels are cognizant of these changes, though to varying degrees. Nonetheless, individuals and communities are increasingly being encouraged to adopt a more environment-friendly approach to daily practices, including how we live—in our homes, communities, and workplaces.
As a homeowner or a business owner, you can start by using an electric heat pump to heat or cool your home or place of business. This would be a life-changing decision given that homes and buildings alone generate the bulk of greenhouse gas emissions in the city of Toronto. Based on current estimates, more than 400,000 households in Ontario are already using electric heat pumps.
Advantages of installing a heat pump
- Energy efficiency, including substantial savings on your monthly energy bills.
- Eco-friendlier approach, which uses electricity instead of fossil fuels, such as natural gas.
- Considerably reduces your individual carbon footprint.
- Contrary to popular belief, heat pumps work equally efficiently in colder climates, including in Canada.
- Improves the air quality in your neighborhood and beyond.
Heat pumps: types and costs
An electric heat pump can be broadly categorized into an air source or ground source pump. While the former extracts heat from the air, the latter does the same using ground heat to condition the air in your home or building during winter. This is typically done through a ductless system or air ducts. During the summer, a heat pump will keep your home or office cool by extracting the heat from inside the building.
Homeowners, who do not want to entirely end their reliance on fossil fuels, can also opt for a hybrid system that uses both an air source heat pump and a natural gas furnace. The equipment and installation costs will vary depending on which option you choose. However, when you purchase a heat pump specifically to heat your home, make sure it is cold-climate certified.
Hybrid heat pump systems are usually the cheapest to install, followed by all electric heat pumps. Ground-source heat pumps are usually the most expensive. But the numerous incentives offered by governments at all levels, which we have listed below, should help you to offset these upfront costs to a large extent.
Ontario’s new heat pump installation incentives
If you are a resident of the Greater Toronto Area (GTA) or live elsewhere in Ontario, the province’s recent announcement offering new incentives to encourage homeowners to install heat pumps should be of interest to you. The measure has been announced keeping in mind an anticipated higher-than-average electricity consumption growth in the province in the coming years, which is already pressuring electricity grids in high population-density cities and regions across the province.
Aimed at encouraging greater use of this environment-friendly option to heat homes or business premises, which also helps you save considerably on energy costs, the incentive is being offered by the Independent Electricity System Operator (IESO). It offers homeowners anywhere between $5,000 to $10,000 to install a variety of heat pumps, based on the homeowners’ needs and preferences.
A plethora of data and research clearly points to energy transition being crucial in the fight against climate change. This winter, do your part, if you can.
Additional Resources
Heating & Cooling with a Heat Pump
Toolkit for air source heat pump sizing and selection
IESO Launches Two New Save on Energy Programs
City of Toronto’s Home Energy Loan Program (HELP)
City of Toronto’s Incentives & Rebates to Green Your Home
Enbridge’s Home Efficiency Rebate
Do get in touch with RE/MAX Royal Team Sachdeva Realty for more information about any of your real estate needs.
Have a great weekend!