I just had a new high efficiency furnace installed. As most people are aware, the Canadian and Provincial governments are giving out a lot of money in an ecoENERGY program to help homeowners pay for energy-saving upgrades. With all the grants I’m promised, I’ll be paying for less than half of the furnace.
The process for me began with choosing a supplier and making sure that the high-efficiency furnace I chose was on the approved list for grants. I negotiated a price of $4209 (including sales taxes).
I then arranged for an ecoENERGY home energy audit before the furnace was installed. Now that I’ve had the audit and the furnace is installed, the audit people will come again to check that I actually installed a new furnace. The total cost of the audits is $420 with tax, and then the following grants and tax deductions are supposed to come rolling in:
$790 federal furnace grant
$790 provincial furnace grant
$150 provincial energy audit grant
$125 provincial power authority grant
$150 gas supplier grant
$145 furnace seller rebate
$481 home improvement income tax deduction (15% of $4209 minus $1000)
Total Savings: $2211 (after deducting the $420 for the energy audits)
This is definitely a case of YMMV (you mileage may vary). The various grant amounts seem to change frequently.
The final cost of the furnace to me is $1998, which is less than half of the starting price. Of course, it will take a few months for all of these grants to roll in, and while I did my best to understand how all this works, I can’t be sure I’ll get all my money until it actually arrives.