Additional funding to help homeowners and renters manage energy costs23 November 2022
FREDERICTON (GNB) – The provincial government is investing an additional $40 million to help homeowners and renters make their homes more energy efficient and manage their monthly energy bills.
“Since making the announcement about the Enhanced Energy Savings Program in September, we have been asked to do more,” said Natural Resources and Energy Development Minister Mike Holland. “As we are coming into winter, I am happy to announce an additional $40 million to help New Brunswick homeowners and renters make their homes more efficient and deal with rising energy costs.”
Twenty million dollars will go to the recently announced Enhanced Energy Savings Program that offers a free mini-split heat pump and upgraded insulation – along with free installation of both to homeowners who use electric baseboard heating and have a combined gross household income under $70,000. Homeowners in the same income bracket with an alternate heating source are eligible for upgraded insulation, free of charge. People can apply and get more information by visiting www.saveenergynb.ca.
“We have had a tremendous response to the Enhanced Energy Savings Program and this additional funding will help us respond to the demand,” said Lori Clark, acting president and CEO of NB Power. “We will continue to expand our programs for the benefit of New Brunswickers today and in support of our mission to move to cleaner energy for the benefit of future generations.”
Homeowners participating in the Enhanced Energy Savings Program can expect to reduce their energy expenditures by about $500 annually by adding a mini-split heat pump and upgrading their insulation.
The provincial government has also earmarked $20 million this fiscal year to help homeowners transition away from heating with oil furnaces.
On average, heating oil has increased 75 cents per litre since this time last year and further increases are expected beginning April 1, 2023, due to federally regulated carbon pricing and Clean Fuels Regulations. Providing access to a program that is similar to the one offered to those heating with electricity is intended to help offset these rising costs.
To transition from heating with oil, it is most efficient to convert to alternative central heating systems. Program details of this initial investment are still being finalized and will be available soon.
“The federal government has allocated funding to New Brunswick in 2023 for heating oil transitions,” said Holland. “We will design a program that meets their requirements and make further announcements with our federal partners once agreements have been signed.”
NB Power has also updated its efficiency website with information on the programs available to help residents and business owners lower their energy costs.