Replace Oil Furnace with Heat Pump

Is your home heated by oil? Is your household at or below the median household after-tax income?

Canadian homeowners who answer “yes” may be eligible to receive a payment of up to $10,000, or up to $15,000 in Nova Scotia, Newfoundland and Labrador and Prince Edward Island, under the strengthened Oil to Heat Pump Affordability program to switch from oil heating to new, energy-efficient heat pumps.

The strengthened program makes it easier and more cost effective for low-to-median households to switch from oil heating to a heat pump. It helps Canadian homeowners, who are currently heating their homes with oil, transition to electric heat by installing an eligible heat pump system (air source, cold climate air source, or ground source). Making the switch can help you save thousands of dollars on your heating bills every year and help reduce greenhouse gas emissions.

What is available through the program Up to $10,000

Available to eligible homeowners across Canada for the purchase and installation of eligible heat pump systems, and any of the following associated eligible measures related to the installation:

Necessary electrical and mechanical upgrades to your home for new heat pump system
Installation of outdoor piping loops for ground source heat pumps
The safe removal of your oil tank.
Installation of a back-up electric heating system (as required)
Switching over other oil-using household systems, such as an electric water heater (where necessary).

Eligibility criteria enhancements

We have simplified the eligibility criteria to make it easier for homeowners to qualify.

Specifically:

We have reduced the proof of purchase requirement to qualify for the program by half; from 1000 litres of oil to only 500 litres
We have expanded the list of eligible heat pumps. Many air source and ground source heat pumps are now eligible.
We have increased the low-to-median income threshold to account for the latest inflation, which will result in qualifying more Canadian homeowners.

Upfront payment

Following the approval of your application, you will receive a cheque. In most cases, this means you will receive your funds in advance of having to pay for any of the related costs. The upfront payment is applicable for homeowners across Canada where the program is delivered by the federal government (not applicable in co-delivery jurisdictions). For homeowners residing in co-delivery jurisdictions, refer to your provincial/territorial program for its specific process.

The funding can be combined with additional financial assistance from other existing federal, provincial, territorial, and utility programs.

Am I Eligible

Please reach us at info@mastergreenhomes.ca to your question.

Do I need a home energy evaluation?

No. A pre-retrofit EnerGuide home energy evaluation is not required for the Oil to Heat Pump Affordability program.

Does my property qualify?

Regardless of property type, the building must meet the following requirements to be eligible:

It has three or fewer storeys above ground.
The building area does not exceed 600 m2.
The building must be habitable year-round.

Is my household income level eligible?

Your household income must qualify as median or below after taxes.

What are the eligibility criteria?

Grant up to $10,000 for applicants across Canada

Canadian homeowners who are eligible for the Oil to Heat Pump Affordability program may receive up to $10,000 toward the costs associated with switching to an eligible heat pump system. Homeowners in Nova Scotia, Newfoundland and Labrador, and Prince Edward Island may also be eligible for additional grant amounts.

Only one homeowner per home can apply. Before you apply, ensure you are eligible.

What will I need to apply?

Proof of primary residence
Proof of home ownership
Heating oil fuel bills or invoices
Quote(s) from your selected contractor(s)
Your Social Insurance Number.

Government Homes Loan and Grants

Invest in your home

Improve your home’s energy efficiency with No interest Homes Loan

Interest-free financing

Loan Details

Maximum: $40,000
Minimum: $5,000
Repayment term: 10 years, interest-free
Loan type: Unsecured personal loan on approved credit

A maximum of one loan is available per eligible property and homeowner.

The loan can only help you finance eligible products and installations that are part of a retrofit that is both recommended by an energy advisor and eligible for the grant.

To begin work in your home, a portion of the loan can be delivered to you up front. Contractors often require a down payment for these types of projects. The balance of the loan will be delivered upon successful completion of the retrofits, and verification through a post-retrofit evaluation.

Eligibility

All loan applicants

There are a few eligibility requirements to meet before applying for the loan:

You must apply and be eligible for the Canada Greener Homes Grant
You must be a Canadian homeowner and your home must be your primary residence
You have completed pre-retrofit evaluation of your home dated April 01, 2020 or later
You have a good credit history and aren’t under:
- a consumer proposal
- an orderly payment of debt program
- a bankruptcy or equivalent insolvency proceeding

You will be asked to share financial information to demonstrate that you have the financial capacity

This Loan is now open to homeowners who wish to apply or have an active application (at the pre-retrofit stage), with the Canada Greener Homes Grant.

Starting August 31, 2022, homeowners who have already requested a post-retrofit evaluation or received a grant payment will be eligible to apply to the Greener Homes Loan for any remaining eligible retrofits they wish to pursue, that have not yet started.

Homeowners who have completed all their retrofits are not eligible to apply for the Canada Greener Homes Loan. However, homeowners may be eligible to apply to the loan for any remaining recommended retrofits that have not yet started.

Get up to $5,000 for energy efficiency upgrades

Get rebates for making energy-efficient upgrades, including insulation, air sealing, a new water heater, windows and more.

You may be eligible if:

Renovation work hasn’t started.
You complete a home energy assessment before starting—you will get a $600 rebate to offset the cost of this assessment.

It’s easy to invest in comfort

The benefits add up

Lower your energy bills.
Make every room more comfortable.
Increase your home’s resale value.
Reduce wear-and-tear on your heating system.

How the program works

-Schedule a home energy assessment

-Get a custom report with recommended upgrades

-Complete at least two eligible upgrades

-Schedule a follow-up energy assessment

-Receive your rebate cheque within 12 weeks

Master Green Homes