It’s Almost Like Renovating For Free!
As reported in the last post, we recently had a Home Energy Audit performed on our own 22 year old, brick bungalow. Although it ranked very well with respect to our over-all energy efficiency, there are still things we can do to make it better and in this post, I’d like to review some of the grants available to assist homeowners with their retrofits.
After having the audit, you have 18 months to complete the recommended work after which time, the auditor will come back to re-assess your home. In our case, we have a few areas to concentrate on:
1. Improve our attic insulation up to an R50 value
2. Seal air leaks predominantly behind outlets and around pipes
3. Replace two of our toilets
4. Replace two windows
I estimate that our costs will be roughly as follows:
1. Attic Insulation: $800 (DIY style)
2. Air Sealing: $60
3. 2 new toilets $400
4. 2 new windows $800
If we do this recommended work, the rebates we will be eligible for include:
1. Attic Insulation: $600
2. Air Sealing: $300 (plus a possible bonus of $150 if we exceed targets)
3. Replace 2 toilets $200 ($100 each)
4. 2 new windows $120
So in terms of the bottom line, our net investment in these improvements will be under $850.00. But wait… We can also claim these under the new Home Renovation Tax Credit reducing our net outlay by up to a further 15%. Not bad! On top of that, I calculate that these changes will reduce our home operating costs by about $350-$400.00 annually.
We’ll make our home more comfortable, improve our home’s resale value, save on energy bills AND help to have a cleaner environment. Gosh, is there any reason NOT to do this?
There are many other rebates available that I have not listed here but the local Environment Network website has a complete list of the consolidated Federal and Provincial grants available.
I’ll keep you posted on our own progress as this evolves. So far, we’ve purchased outlet and door gaskets and insulating foam. Hubby has his “Honey Do” list set for today.