The Provincial Government continues to recognize that the global pressures causing the high cost of living are placing a strain on households across the province. Building on more than half a billion dollars in cost-of-living relief since Budget 2022, the Honourable Bernard Davis, Minister of Environment and Climate Change, today announced that the Provincial Government will be expanding the oil to electric rebate program for residents of Newfoundland and Labrador.
The initiative, funded through Budget 2023, will assist residents looking to switch from oil furnaces to electricity heating technologies.
The Provincial Government is currently working with the Federal Government on a new multi-year funding program to expand their collective efforts for residential home heating rebates. The program will support approximately 10,000 homeowners to transition their homes from oil heat to electric heat.
The expanded rebate program will be available for low to high income ranges. Rebates will be a minimum of $5,000, and may increase based on income level and the type of heating system installation. The program will continue to be administered by the province’s electric utilities and will provide an option to pay the rebate directly to installers to help alleviate upfront costs to homeowners.
Further details on the new program will be provided at a later date.
This expansion is made possible in part from funding announced by the Federal Government in September 2022 through the Low Carbon Economy Fund to make home heating more affordable. This funding is meant to be complementary to the federal Oil to Heat Pump Affordability Grant launched in February 2023. These investments will support provinces and territories with programming to help Canadians switch from oil furnaces to electricity heating technologies, including more energy-efficient heat pump systems.