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Tips for Buyers

Would You Like To Lower The Utility Costs To Operate Your House?

Many Toronto homeowners are struggling to keep up with Hydro payments or, at the very least, keep them from escalating.

In the summer, does your home become unbearably hot or do you spend a fortune on air conditioning, living in trepidation of your hydro bill?

In winter, do you lean on plug-in electric heaters to withstand drafty, cold rooms?

Are you concerned about how much damage we are collectively doing to the environment, as you consider turning up the heat in winter or blasting the AC in the summer?

Did you know the City of Toronto, Toronto Hydro and Enbridge each offer significant financial incentives to help you improve energy efficiency, so you can eliminate drafts and better manage summer’s heat?

Financing is available from the City for energy efficiency improvements and you may qualify for up to 5% of the current value assessment (CVA) of your property. Their Home Energy Loan Program (HELP) has a record of reducing energy consumption by an average of 25%. It also enables you, through low interest financing, to defer the cost of energy efficiency upgrades. The mandatory energy audit required before and afterwards, provides proof of both energy and financial savings.

Further incentives include up to $650.00 from Toronto Hydro for replacing your furnace and air conditioner with high efficiency units. An incentive of up to $2,100.00 is also available from the Enbridge Home Energy Conservation (HEC) Program to qualified homeowners. You may always take advantage of these incentives even if you do not apply for HELP financing.

Enbridge’s Free Home Winterproofing Program is free to all who qualify with Enbridge paying for energy efficiency improvements which are installed by experienced professionals. You could realize a savings of up to 30% on your energy use and enjoy lower gas bills. They claim up to 30% reduction in energy use and see the greatest savings in homes older than 35 years.

If you are looking to save on water usage, the city offers an app – MyWaterToronto – for monitoring by day, week, month or year. You can choose to include environment details such as temperature or precipitation, to assist with seeing why you may have spiked or even dropped below your usual usage levels.

Implementing energy efficiencies and keeping an eye on your utility costs will help reduce your usage, save you money and conserve precious resources.