Actually we will be saddened by the ending of the HRTC tax credit. The Conservative government has been hinting strongly that this type of incentive will not be extended. The downside to this relief is that while it was a benefit to those who had the funds available to spend, it didn’t offer any assistance to homeowners that weren’t already prepared to spend money on upgrades and energy efficient projects.
Now we are not really welcoming a situation where homeowners have lost the chance to save 15 percent on a renovation and will have to pay an additional 8 percent when the HST comes into effect in July 2010.
Where does that leave us now? Will the ecoEnergy grants be the next incentive to go? I believe that the government is going to have to balance the cost of the HRTC in terms of lost tax revenue versus the potential for energy reduction by installing Energy Star windows and doors. The longer people wait to make these energy efficient upgrades the more they are going to have to pay for them.
How can we measure their commitment to the energy crisis? The ecoEnergy initiative is only funded until March 2011 and that is just over one year away.
The Ontario government is still offering a rebate of $150.00 towards the cost of home energy inspections and these energy audits will help to guide you in the decision making, but the window of opportunity to save on the cost of high efficiency exterior renovations appears to be closing!
Tags: ecoEnergy audits, Energy Star Windows, furnace replacement, high performance windows, HRTC, HST, Patio Doors
