More money is being made available to people who wish to switch their heating system from oil to electric.
The federal and provincial governments are allocating $157 million for conversion incentives over the next four years. The new Oil to Electric Incentive Program will subsidize technologies including mini splits, multi splits, central heat pumps, electric furnaces and electric boilers. Rebates, which are retroactive to April 1 of up to $17,000 for low and moderate income households are available.Household income will be assessed on an after-tax basis and verified by the Canada Revenue Agency prior to approval being granted.Applicants are encouraged to obtain pre-approvals prior to filing applications or hiring contractors.
The program is being delivered through takeCHARGE, a joint effort between Newfoundland and Labrador Hydro and Newfoundland Power.