St. John’s, NL — Homeowners in Newfoundland and Labrador looking to switch to heat pumps will have access to new rebates.
The new Oil to Electric Incentive Program is for whole-home heating and will see eligible homeowners receive up to $22,000 in funding to cover the total average cost of switching from oil to electricity-based heat, including federal and provincial funds.
Successful applicants can also receive a one-time upfront $250 payment from the federal government.
The new program is retroactive to April 1, 2023.
Available technology incentives in the program include electric furnaces, electric boilers, multiple mini-split heat pumps, multi-split heat pumps, and central heat pumps. Incentives are determined by the technology or technologies installed, income, and the number of people living in a household.
The new grants are available to households in jurisdictions that are or intend to offer further provincial or territorial funding to help residents switch to heat pumps where the government has a co-delivery agreement in place, including Newfoundland and Labrador, Nova Scotia and P.E.I.
Additional grants for residents in Nova Scotia and PEI will be announced in the coming weeks.