Rebates & Financing
At GEI we believe that your best interests are served by providing you with access to appropriate information that will assist you in making your geothermal system decision. The following outlines the rebate and grant process and lists some useful websites that we believe will supply you all of the information you need to help clarify the process and available funding for your geothermal investment.
Home Energy Audit
To qualify to receive any Federal or Provincial rebate money one must have a home energy audit completed by a certified energy audit organization. Ontario's energy conservation program provides homeowners with up to $150 towards a home energy audit and rebates of up to $5,000 for retrofits addressing energy audit recommendations. The rebates apply to single family homes including detached, semi-detached or low-rise multi-unit residential buildings.
To be eligible you must have a certified energy advisor complete a home energy audit. You then have 18 months to make some or all of the recommended upgrades. The energy advisor will apply for the rebate on your behalf after your home has been re-assessed following the eligible upgrades. Eligible improvements include CAN/CSA 448 compliant ground or water source heat pumps.
This rebate program can be combined with rebates through the federal ecoENERGY Retrofit Program. For more information visit www.homeenergyontario.ca
Natural Resources Canada - This is a terrific resource for information on geothermal systems as well as for information on renovation grants through the Ecoenergy Retrofit Program.
Ontario Home Energy Savings Program - This website has details of the Ontario energy retrofit rebate program.
Federal Rebate Programs
ecoENERGY Retrofit Grants and Incentives - Natural Resources Canada’s ecoENERGY Retrofit program provides a financial incentive to eligible homeowners who improve the energy efficiency of their homes and reduce its impact on the environment. The grants are available to those living in single family homes including detached, semi-detached and multi-unit residential buildings.
To be eligible for a grant of up to $4,375, you must arrange for a Natural Resources certified energy advisor to conduct an onsite assessment of your home's energy use. You will then receive a personalized report including a recommended list of retrofits to improve the energy efficiency of your home. Qualifying retrofits include installation of a CAN/CSA 448 compliant earth-energy system (ground or water source)
To book an appointment with a Natural Resources Canada certified energy advisor, please visit the website at ecoaction.gc.ca and follow the links to ecoENERGY Retrofit or call 1.800.622.6232 or TTY: 1.800.926.9105.
For more information, visit: ecoaction.gc.ca/ecoenergy-ecoenergie/index-eng.cfm
Ontario Rebate Programs
Once granted into the ecoEnergy program by having the Home Energy Audit completed one will automatically accepted into Ontario Home Energy Retrofit Program. The program matches the Federal ecoEnergy Program noted above – dollar for dollar. Investing in a geothermal energy system will provide homeowners with $4,375 (Federal) + $4,375 (Provincial) = $8,750 in total. This often equates to over 30% of the project costs to have a earth friendly geothermal energy system installed in your home.
Refund of Retail Sales Tax
As part of the 2004 Ontario Budget, the Ontario government expanded the current Retail Sales Tax (RST) rebate for solar energy systems to include wind energy systems, micro hydro-electric energy systems and geothermal energy systems installed in residential premises.
Rebates are available to homeowners from the Ontario Ministry of Revenue for the installation or upgrade of alternate energy systems, including geothermal energy systems, in single family homes, including multi-unit residential buildings. It also applies to newly constructed homes or multi-unit residential buildings where the Ontario New Home Warranties Act applies. Systems must be installed before January 1, 2010.
The formula for estimating the rebate is very simple. The refund is equivalent to a return of 3% of the total amount of all invoices associated with the geothermal installation including all taxes.
The rebate for geothermal includes ground or water pipes incorporating either an open or closed loop system and the associated works for the system and fluid and heat pump, including the heat exchanger, when sold for use as part of the system.
For more information, visit www.rev.gov.on.ca/english/refund/windgeo/
Project Financing
Geothermal Experts is pleased to offer financing to homeowners across Eastern Ontario. The Financing Program is an arrangement wherein TD Financing Services will provide a financial service (extension of credit by the TD Canada Trust) to homeowners facilitated by Geothermal Experts Inc. Homeowners will have to meet the minimum guidelines required by TD Canada Trust. All loans are unsecured and can be paid out at any time without penalty. There is also a wide variety of specials that can be offered through the Program including deferrals and buy-downs. The program is designed to facilitate increased affordability to homeowners who want to be more environmentally responsible.
