If your clients are low-to-middle income, they may be eligible for heat pump funding.

Funding comes from two levels of government:

• the federal government is investing up to $103.7 million from Canada’s Low Carbon Fund and the Oil to Heat Pump Affordability program residents reduce energy costs; and
• the province is investing $151 million toward this initiative.

“More and more British Columbians are ready to switch from fossil fuels to clean energy, while making their homes more efficient and comfortable,” said Josie Osborne, BC Minister of Energy, Mines and Low Carbon Innovation.

“We’re working to make electric heat pumps and efficiency upgrades more affordable for low- and middle-income households across the province, helping them to save on their energy bills and build cleaner, more resilient communities,” Minister Osborne said.

Funding will be in the form of grants to help residents to switch their home heating systems from oil, propane or natural gas to cleaner heating and cooling options.

Funding will also enable building upgrades for income-qualified homeowners and tenants through the CleanBC Better Homes Energy Savings Program.

The application process will open on June 18, 2024 through the CleanBC Better Homes Energy Savings Program.

Income-qualified applicants could receive a rebate as much as $16,000 to switch to high-efficiency heat pumps in homes currently heated with oil.

• Qualifying northern BC residents may be eligible for up to an additional $3,000 toward the installation of a heat pump.

Homes requiring an electrical system upgrade may also qualify for a rebate of up to $5,000 to complete the work.

• This funding could help income-qualified applicants receive a total as much as $24,000 to cover the costs of heat-pump installation, including electrical upgrades.
• Residents who switch from oil heating to an electric heat pump will also receive an up-front, one-time payment of $250 from the Government of Canada.

While new builds are increasingly offering heat pumps, not all strata corporations allow them.

Each strata unit must have its own electrical panel and exterior wall and space for a heat pump.

Before committing to adding a heat pump to a strata unit, owners should check with their strata council or property manager to verify whether heat pumps are allowed, and if so, what requirements the strata council is imposing on the installation process. There may also be municipal permits required for electrical upgrades.

Owners should also verify that their unit is eligible for government or utility incentives if the owner is relying on this funding to be able to proceed with the upgrade.

• Homeowners who switch from oil to cold-climate heat pumps to heat their homes save between $1,500 to $4,700 per year on home energy bills.
• The number of BC households with heat pumps has increased 80 per cent to 254,000 from 142,000 since 2017.
• In 2022, the number of heat pumps shipped to BC (37,800) exceeded the number of natural gas furnaces shipped to BC (30,700).

Source: ”Expanded heat pump program helps British Columbians save on home-energy costs.” 

• The CleanBC Better Homes Energy Savings Program. Application process opens on June 18, 2024.
• Whether you qualify for a heat pump.
• Canada’s Low Carbon Economy Fund.
• Canada’s Oil to Heat Pump Affordability Program.

Read the BC Ministry of Energy, Mines and Low Carbon Innovation news release, ”Expanded heat pump program helps British Columbians save on home-energy costs.”