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After buying a home together Mrs. SPF and I decided our century house needed to be insulated to keep heating costs down during Canadian winters. We knew that Ontario was still supporting the ecoEnergy retrofit program until the end of March 2011. Now was the time to get our ecoEnergy Retrofit done. We insulated the whole house, including the basement. I also figured out how to install a low flow toilet to get rebates on this improvement as well.
We had our follow up test done on February 4th and 7 weeks later I am proud to announce that we got our rebate much faster than I anticipated. The retrofit fellow said 3-4 months! In the end our total bill for our retrofit was: $10135.35. We got back retrofit rebates of $3195. So our total cost was $6940.70 or 68.5% of what we initially paid. We know this investment will pay itself off in heating savings within 7-8 years and since we used airKrete insulation we will never have to add more insulation in the future. As we intend to stay in the house for 25 years this is a great passive investment.
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Wow! Congratulations for making such a wise investment in your home – and letting the government pay for a large portion of it! :-)
If the Feds still had their program we would have funded almost 2/3rd of it but the Feds canceled a year early. That’s $3200 they took outta our pocketeses!
Good for you guys. I am sure your investment will pay off in no time. At the rate time flies for me these days, 7 years is a blink. Nice to see your government supporting initiatives like this.
We were temporarily excited when the Feds mentioned bringing back the Federal part of the program but that is old news now …
Now that’s a good deal!
You will see the savings on a monthly basis every winter since heating is a big chunk of the electricity bill.
In our case, just by installing programmable thermostats we get to pay less than 1500$ per year on electricity for 2,000 sqf home. That’s very good for a Canadian house!
I like to think of it as passive investing – Tom Drake included our original article in the passive investing carnival this week too.
Great example of how to wisely spend money to make money, and to save the environment! Smart move!
Thanks Barb! I call it “passive investing”! I know investing is something you like to do!
A great example of passive investing! We were able to get a new furnace with a government rebate that really helped. No energy-saving rebates are available now that I know of; perhaps more will be available in the next few years.
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