$1590.00 in Gov't rebates
Here's How It Works
The $1040.00 in provincial government rebates on heating and cooling equipment is part of $5000.00 in rebates for energy savings retrofits to your home and do require a $450.00 investment for a home evaluation that tests your homes energy efficiency and tells you what repairs will save you money, how you can conserve energy and what rebates you will receive, you are only required to do the upgrades you choose.
The Cool Savings Rebate of $550.00 is simply a matter of paper work we do on line, or mail, and you simply wait for the check.
Both of these rebates are guaranteed if the correctly matched equipment is installed through a qualified and registered contractor.
See links tab to get you started.
Some scenarios:
The cost of a home evaluation: $450.00
The cost of a 95% high efficient furnace: + $3000.00
Sub Total: $3450.00
You receive in rebates: - $905.00
Total cost: $2545.00
If it costs you $1500.00 annually to heat your home and you save 30% on your heating bill that’s $450.00.
The cost of a new furnace $2545.00 divided by $450.00 is 5.6. That’s 5.6 years to pay the furnace off with the money you saved. And it still has 4.4 years left on the parts and labour warranty. I'm not sure if utility, labor, or equipment costs are going to increase or not, but if every thing did by 10% in three years and the rebates were gone the furnace would cost you $3300.00, and you would have spent $1755.00 more in utilities. So that’s $2050.00 in three years you spent you didn't have to.
We know the actual installation cost of a furnace today. the rest of the numbers are estimates and guesses, who knows if the utilities are only going to go up 10% in three years or 30% in one year. But with these figures if you buy a furnace today it would be less than free compared to five years from now. For the ministry of natural resources of
Cost of new furnace and central air: $6000.00
Cost of home evaluation: + $450.00
Sub total: $6450.00
You receive in rebates: $1590.00
Total cost: $4860.00.