Get Up to $40,000 From the Canada Greener Homes Loan Program
- June 21, 2022
- Posted by: Atel Air
- Category: Greely Community, Heating, Home, Home Comfort, HVAC System Advice
By now, most have heard about the Canada Greener Homes Grant. Helping homeowners across the country make their homes more energy-efficient, the Canada Greener Homes Grant offers up to $5,000 towards a variety of retrofits, including a new energy-efficient furnace. Our cold-climate heat pumps are an excellent way to take advantage of this grant while lowering your energy costs year after year.
The government is also offering up to $40,000 through the Canada Greener Homes Loan Program. This one is a loan rather than a grant; however, it’s a smart way to complete more major retrofits like Geothermal heating and cooling. The unsecured personal loan is interest-free for ten years, a welcome relief from predatory financing schemes we’ve all read about on the news.
Geothermal heating and cooling is one of the smartest ways available to keep your home comfortable. One of the most energy-efficient and environmentally friendly technologies available, Geothermal is also one of the cheapest ways to heat and cool your home.
How Geothermal Heating & Cooling Works
Only a few metres below ground, the Earth stays a constant 50°F/10°C all year round. Sometimes known as a ground source heat pump (GSHP), Geothermal systems tap into that comfortable temperature to add heating or cooling to your home. Using liquid-filled pipes, it transfers heat where it’s needed or away from where it is unwanted. Working much like your refrigerator or air conditioner, the process also transfers heat from your home back into the Earth.
Benefits of Geothermal Heating & Cooling
Incredible Energy Efficiency – For every $1 of energy spent, you receive $4 – $5 back in heat energy. To compare, electric furnaces or baseboard heatings only return $1 of heat per $1 spent. Geothermal is also twice as efficient as air source heat pumps.
Maintains Ideal Humidity – Your skin will thank you! Geothermal keeps your home’s humidity around the ideal 35-50%.
No Air Conditioner Needed – A Geothermal system will also keep your home cool all summer long.
Hot Water Too – A Geothermal system will also keep your hot water tank warm, lowering that expense too.
Peace & Quiet – These systems make less noise than even the quietest furnace.
A Sustainable Option – Geothermal means you’ll never need another heat source in your home. You’ll reduce your dependency on fossil fuels and your carbon footprint too.
One of the drawbacks to making the switch to Geothermal heating and cooling has been the upfront cost. Most expensive than a traditional furnace, Geothermal heating offers savings on the back-end, much like an electric car. Taking advantage of the Canada Greener Homes Loan Program is a great way to make the switch. You can pay back the loan over ten years, interest-free.
If you’re interested in learning more about how Geothermal heating and cooling can work for you, give us a call! Atel Air is Eastern Ontario’s most experienced Geothermal installer, having installed over 600 geothermal systems since 1984. We take care of the project management for your new Geothermal system (GSHP) from beginning to end, ensuring all of the work is done right so you’ll be able to enjoy your system for decades to come. Find out more about our Geothermal services on our website and get started today!
To learn more about the Canada Greener Homes Loan Program, visit https://www.nrcan.gc.ca/energy-efficiency/homes/canada-greener-homes-grant/canada-greener-homes-loan/24286