Saturday, October 5, 2024

Heat pump, furnace or hybrid – which is the higher option in Canada?

Only lately have consumers begun to turn out to be acquainted with heat pumps as an option for his or her homes, although this technology has been around since 1856. And Myths about heat pumps including the assumption that they don’t work in cold weather. In a current survey35% of respondents were of the opinion that “heat pumps make you freeze when you need (heating) the most.”

The reality, nevertheless, is kind of different. Heat pumps are 300% more efficient than baseboard heaters and furnaces and 50% more efficient than air conditioners. And unlike most furnaces, they run on electricity, not gas (unless it is a hybrid heat pump). Speaking of gas, a Recent study found that heat pumps are more efficient than gas heaters, even in cold weather. And here’s one other consideration that may persuade you to change to a heat pump sooner relatively than later: Some parts of Canada have Ban on fossil heating systems in the brand new constructing.

Despite the growing variety of excellent news Although heat pumps are considered a product category that can “explode,” Canadians have been slow to adopt them as an HVAC (heating, ventilation, and air-con) solution in comparison with the remainder of the world. In 2023, only 7% of Canadian households had used heat pumps within the last 12 months. This is significantly lower than in Europe. In Norway, 60% of households use heat pumps, followed by Sweden with 43% and Finland with 41%. In 2022, heat pump sales in Europe increased by almost 40% year-on-year (including air and water heat pumps), in comparison with 11% in the remainder of the world, based on the International Energy Agency.

So why aren’t Canadians jumping on the bandwagon, seeing the potential energy savings of warmth pump solutions? “When discussing the differences between Canada and Europe, energy prices are one of the main factors influencing the adoption of electrification of home heating,” says Robin Librach, communications officer for Natural Resources Canada (NRCan). The cost of gas, electricity and natural gas is increased dramatically in lots of parts of Europe Since Russia’s invasion of Ukraine, European consumers have understandably been in search of cheaper ways to heat and funky their homes.

Get personalized quotes from Canada’s leading home insurance providers.*You are leaving MoneyDown. Simply close the tab to return.

While demand for warmth pumps is increasing, government support is decreasing

Few Canadian households own a heat pump, but NRCan numbers suggest the tide may finally be turning. Since the federal government launched the Canada Greener Homes initiative in May 2021, greater than 47,000 homeowners have received heat pump grants. And heat pumps are essentially the most common retrofit made by program participants, followed by windows and doors, home insulation, air sealing and solar panels.

Overall, the excellent news is that one-third of Canadian homeowners say they’re ready to change to heat pumps. Unfortunately, the Canada Greener Homes Grant – which previously offered financial incentives of $2,500 to $5,000 for homeowners who upgrade to a heat pump – is now closed to latest applications.

The federal government’s reasoning is that the $2.6 billion program was so popular that funds ran out, resulting in the initiative being cut off early. The initiative was originally scheduled to run through March 2027. If you are a house owner who managed to get through in time and your pre-retrofit assessment by an authorized technician recommends installing a heat pump, You can still apply for the scholarshipprovided you will have at the very least one cost estimate.

New for 2024: The Oil-to-Heat Pump Affordability Program

Launched by the Federal Government in March this yr, the Affordable Oil Heat Pump Conversion Program (OHPA) offers one other opportunity to receive funding for a heat pump, with grants of as much as $10,000. The program will run for the subsequent 4 years with a budget of $750 million.

To qualify, your own home must currently be heated with oil and your household income after taxes have to be equal to or lower than Amounts listed on NRCan web siteswhich also vary from province to province. And you could have bought at the very least 1,000 litres of heating oil within the last 12 monthsThe provinces of Alberta, BC, Manitoba, New Brunswick, Ontario, Quebec and Saskatchewan, in addition to the Northwest Territories and Yukon Territory, all take part in this program. You can Check your eligibility for the OHPA online.

Latest news
Related news