Posthaste: 8 million Canadians are confused over energy bill grants, report says

Skip to Content News Archives Economy Defence Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Defence Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Defence Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials This advertisement has not loaded yet, but your article continues below.HomeNewsPosthaste: 8 million Canadians are confused over energy bill grants, report saysMore than 60% of homeowners are worried about the running cost of their homesLast updated 5 minutes ago Construction workers build a home in Tecumseh, Ont. Several provinces and the federal government offer grants meant to offset the cost of making a sustainable upgrade to a home. Photo by WINDSOR STAR - DAN JANISSETHIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLYSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.SUBSCRIBE TO UNLOCK MORE ARTICLESSubscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.REGISTER / SIGN IN TO UNLOCK MORE ARTICLESCreate an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountMany Canadians are unaware of programs that are meant to help them handle living expenses as the winter months loom and the cost of living rises.Several provinces and the federal government offer grants meant to offset the cost of making a sustainable upgrade to a home, which generally cuts down on energy costs.For example, the federal government earlier this month announced a $2-billion rebate program for Canadians making the switch to electric heat pumps, offering as much as $10,000 per household.This advertisement has not loaded yet, but your article continues below.Heat pumps work by transferring heat from outside air into the home. They can both heat and cool a home in one system, effectively eliminating the need for an air conditioner and a furnace, thereby saving about $1,400 annually in household heating bills, the government said.Breaking business news, incisive views, must-reads and market signals. Weekdays by 9 a.m.By signing up you consent to receive the above newsletter from Postmedia Network Inc.A welcome email is on its way. If you don't see it, please check your junk folder.The next issue of Posthaste will soon be in your inbox.We encountered an issue signing you up. Please try againHomeowners below the median income who purchase eligible products are offered a $10,000 rebate, while others receive $2,000.In Ontario, the Home Renovation Savings program offers rebates of up to $12,000 for a variety of upgrades, including insulation replacement, window replacement and even solar panels.In Alberta, the Clean Energy Improvement Program offers up to 100 per cent for certain upgrades up to $50,000 depending on the municipality. The fixed-rate loans are tied to the property, meaning the new owner can continue the payments.Despite the various options, more than half of Canadians are unaware of what grants and subsidies are available to them and 43 per cent say not enough is being done to support homeowners who make energy efficiency upgrades.This comes as Canadians brace for an expensive winter, with more than 60 per cent of them worried about the running cost of their homes, which jumps to 72 per cent for those with children under the age of 18.This advertisement has not loaded yet, but your article continues below.Nearly a third worry about how they will afford to heat their homes, while 37 per cent said they dread opening up their energy bills.Many Canadians have begun making sacrifices to make ends meet, with 21 per cent saying they are taking shorter showers, 34 per cent planning to only heat the room they’re in and 24 per cent putting off essential home maintenance.“This strategy has the potential to cause serious damage to Canadian homes across the country and in some cases may pose a significant danger,” the report said. “Skipping a furnace service can lead to less effective heating or even dangerous fumes coming into the home.” Sign up here to get Posthaste delivered straight to your inbox.Canada’s most influential business people are warming up to Prime Minister Mark Carney’s economy policy.The Business Council of Canada found that 80 per cent of respondents back his approach, though they have doubts he can carry out the vision.More than half of the executives believe complex regulations are Canada’s biggest economic obstacle, while 19 per cent believe it to be the country’s tax competitiveness.This advertisement has not loaded yet.This advertisement has not loaded yet, but your article continues below.EU summit begins in MontrealBank of Canada’s annual economic conference beginsToday’s Data: Job vacancies for August, monthly estimates for business openings and closures, U.S. jobless claims, U.S. third quarter GDPEarnings: Amazon.com Inc., Eli Lily and Co., Mastercard Inc., Intel Corp., Shell PLC, TotalEnergies SE, Anheuser-Busch Inbev SA, Starbucks Corp., Mondelez International Inc., AltaGas Ltd., Spin Master Corp., TMX Group Ltd.There was a time when investors cared about valuations, but with the advent of passive investing and robo-advisers, the framework that once governed sound investing is almost forgotten, warns investing pro Martin Pelletier.Pelletier says the mainstream consensus among many investors and strategists now appears to be to downplay high valuations and the potential for a bubble. However, the elephant is still in the room. Read his column hereThis advertisement has not loaded yet, but your article continues below.The FP Atlantic Economic Report takes you behind the scenes of the business world in Atlantic Canada. We’ll bring you insights from CEOs, government leaders, investors and economists on what’s making the regional economy tick and where it’s heading next. Sign up hereAre you worried about having enough for retirement? Do you need to adjust your portfolio? Are you starting out or making a change and wondering how to build wealth? Are you trying to make ends meet? Drop us a line at wealth@postmedia.com with your contact info and the gist of your problem and we’ll find some experts to help you out while writing a Family Finance story about it (we’ll keep your name out of it, of course).McLister on mortgagesWant to learn more about mortgages? Mortgage strategist Robert McLister’s Financial Post column can help navigate the complex sector, from the latest trends to financing opportunities you won’t want to miss. Plus check his mortgage rate page for Canada’s lowest national mortgage rates, updated daily.Financial Post on YouTubeVisit the Financial Post’s YouTube channel for interviews with Canada’s leading experts in business, economics, housing, the energy sector and more.Today’s Posthaste was written by Ben Cousins with additional reporting from Financial Post staff and Bloomberg.Have a story idea, pitch, embargoed report, or a suggestion for this newsletter? 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