OHBA Applauds Funding for Energy Efficiency Initiative
OHBA Celebrates New Energy Efficiency Funding
The Ontario Home Builders' Association (OHBA) is excited to announce significant funding from the Ministry of Energy and Electrification aimed at enhancing energy efficiency. This initiative represents a commitment of $10.9 billion over the next 12 years, specifically allocated to support energy-saving programs.
Introducing the Home Renovation Savings Program
A highlight of this funding is the launch of the new Home Renovation Savings Program, set to debut at the end of January 2025. This program is designed to benefit homeowners significantly by providing rebates of up to 30% on various efficiency upgrades. This includes replacements for windows and doors, insulation improvements, smart thermostats, and the installation of heat pumps.
Impact on Homeowners and Renovation Sector
By encouraging homeowners to undertake these renovations, the program not only helps them save money but also strengthens the professional renovation sector, which plays a crucial role in the housing industry.
Support from Industry Leaders
Scott Andison, CEO of OHBA, expressed strong support for the announcement, stating how this investment underscores the dedication of the Ontario Minister of Energy and Electrification to assist Ontarians in reducing energy costs. He emphasized that the Home Renovation Savings Program will enable homeowners to invest in energy-efficient improvements while also stimulating the busy renovation sector.
The Economic Significance of Renovation
With recent challenges faced by the renovation sector, initiatives such as these are vital for sustaining and nurturing an industry that is integral to Ontario's economic fabric. The renovation market not only supports hundreds of thousands of jobs but also contributes over $25 billion in wages and around $50 billion in investment in the province.
Ministry’s Commitment to Innovation
The Ministry of Energy and Electrification aims to enhance energy accessibility and affordability for all Ontarians through innovative programs. Recent initiatives align with the goals set out in the Affordable Energy Act, further demonstrating a commitment to energy efficiency and sustainability within the building sector.
Long-Term Benefits for Homeowners
Kirstin Jensen, Vice President of Policy, Advocacy & Relationships at OHBA, remarked on the positive direction these new programs provide, noting that they will yield significant benefits not just for renovators but also for the broader residential construction sector. This initiative acknowledges the need for sustainable energy solutions amid rising population and energy demands in Ontario.
About the Ontario Home Builders' Association
Established in 1962, OHBA serves as the representative voice for the residential construction industry in Ontario. It comprises more than 4,000 member companies involved in home building, land development, and renovations, unified across 28 local chapters throughout the province. OHBA is dedicated to advocating for its members, enhancing professional standards, and fostering innovation in residential construction.
Contact Information for Media Inquiries
Media contact for inquiries is as follows:
Andres F. Ibarguen
Senior Manager, Communications
(416) 217-6790
aibarguen@ohba.ca
Frequently Asked Questions
What is the total funding amount announced by the OHBA?
The OHBA has announced a total of $10.9 billion for energy efficiency programs over 12 years.
What does the Home Renovation Savings Program offer?
The program offers rebates up to 30% on various energy efficiency upgrades for homeowners.
Who expressed support for this funding initiative?
Scott Andison, CEO of OHBA, voiced strong support for the energy efficiency funding announcement.
How will this announcement impact the renovation sector?
This initiative is expected to boost the renovation sector and ultimately enhance job creation and economic activity in Ontario.
When is the Home Renovation Savings Program launching?
The Home Renovation Savings Program is set to launch at the end of January 2025.
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