The Essential Guide to Grants in 2024
The grants are BIG and enticing and still very much real for homeowners who are considering installing a new heat pump system in the lower mainland. We advertise a minimum of $10,000.00 & many may advertise more. How can you navigate the eligibility without having to go through the estimation process? And where’s the elusive sweet spot where you can get the max?
Here’s the Brass Tacks:
To be eligible for $10,000 you must meet these requirements:
- First and foremost it’s a Fortis BC rebate, so you must be a Fortis BC Customer
- And the home must be at least 12 months old and a year-round residence.
- You must be combining the heat pump with a gas FURNACE (boilers are ineligible)
- Existing furnace must be 10 years old
- You will purchase a new heat pump AND a new high-efficiency furnace plus accompanying components from a list of choices on an eligibility list. Just like an exclusive Oscar party, they must be on the list!
- The system must be professionally sized, which is our job!
- Your R&B installers are all BC Technical Safety Licensed, which is also a must
- Installation must be completed by a contractor who is “on the list” as a member of the Home Performance Contractor Network—which we are, and all of a sudden it’s a party!
There are many other technical requirements for installation settings and commissioning that we won’t worry our pretty little heads over, all will be met by your Fortis Trade Ally Network Member company R&B Plumbing & Heating.
What will make you ineligible?
Besides not meeting the requirements of the above list.
- If your home heating system needs are met with a boiler
- If you are replacing due to a warranty issue or insurance claim.
- If you already have a dual fuel heat pump system.
- Poor timing. There are date limits on installation, invoices and claims that will need to be met.
What could make it better?
For the $10,000 grant, you can add a connect thermostat for an extra $150.
Income qualified Fortis BC Grant applicants could receive an extra $5000 plus an extra $300 for the connected thermostat, if the threshold for that program are met, including;
- You have only one Fortis account and are upgrading your principal residence.
- Your household income falls within the limits allowed. For example, a 4 person household may have a maximum allowable household income of $90,800.
- Your home must be 10+ years old
- Maximum square footage of the home is 3500
Sound good so far? Let’s keep that cash coming.
Turn to the Experts with Carrier Cool Cash of up to $2100. To be eligible for the full $2100, you will choose to:
- Buy Qualified systems from the Carrier
- Buy between Sept 9 and Nov 23, 2024
Now grants are fantastic, but it’s still a large cash outlay. You may want to ask us about financing options. And with interest rates higher than we’ve seen in the past 10 years, maybe you’d like to know what it takes to access the Greener Homes zero percent financing?
With the Greener Homes zero percent financing you can access up to $40,000 to be repaid over 10 years, interest free!
Here are some of those “musts”:
- You must be a Canadian citizen, permanent resident, or non-permanent resident who is legally authorized to work in Canada
- You must own the home, and it must be your primary residence
- You have a pre-retrofit evaluation and have not yet had a post-retrofit evaluation
- Your pre-retrofit evaluation was completed on or after April 1, 2020
- You have not started the retrofits for which you are seeking a loan
- You have a good credit history and are not in:
- a consumer proposal
- an orderly payment of debt program
- a bankruptcy or equivalent insolvency proceeding
And here are the “must nots”:
You cannot apply for a loan for the following:
- work that has already been started or completed
- retrofits that were not recommended in your pre-retrofit evaluation
- retrofits that are not included in your application (that is, you must not add additional retrofits to your loan application after it has been approved)
- retrofits that are not eligible for a Canada Greener Homes Grant
What else is out there?
Well, separate from the Fortis BC Grants (no double dipping!) is the Better Homes BC Energy Savings Program: With it we typically see income qualified customers in our area qualify for $10,500.00 for a central heating system, or $8000 for a multi-split system.
The best part about this program is that the amount of the grant goes directly to the installer and becomes a part of the payment for services. This amount coming right off the installation means that the customer does not have to pay the large initial investment and then wait for the rebate. R&B as a program registered contractor, requests funding from the province for this on your behalf.
The chart below shows the grant structure.
Who can apply?
Well first, you must have an eligible home that has these qualifications
- A year-round residence
- Utility bills must be in your name
- Property values do come into play. A BC Assessment at or less than $1.23M will unlock grants at income levels 1 & 2. Any more than that and you’ll only be able to access grants in column 3 regardless of income level.
And you must pre-register. There are a lot of specifics for each upgrade that I won’t go into here, but the advantages can exceed those offered by Fortis BC at the right income level and property value.
Conclusion:
In closing, navigating grant eligibility for residential heating upgrades can feel a bit daunting, but it’s definitely worth the effort! By taking the time to explore the various programs available and their specific requirements, you can set yourself up for success in making your home cozier and more energy efficient.
Don’t hesitate to connect with local energy efficiency programs or reach out to the friendly experts at R&B who can guide you through the process. With the right support and a little know-how, you’ll be well on your way to enjoying a warm, inviting home while making a positive impact on the environment. Happy upgrading, and here’s to a more comfortable future!
