Ontario homeowners are facing rising energy bills driven partly by new carbon pricing policies. The federal carbon tax adds charges for greenhouse gas emissions which makes natural gas and other fossil fuels more expensive. But by switching to an efficient electric heat pump system and leveraging Ontario's new ultra-low overnight electricity rates, you can beat these carbon costs and lower your monthly energy bills.
Ontario's carbon pricing system puts a cost on pollution. The carbon tax on fossil fuels like natural gas will increase each year going forward. This means higher monthly heating bills for homeowners using gas furnaces, fireplaces, and water heaters. By 2030, the carbon tax is estimated to add over 50% to current natural gas costs.
For the average Ontario home heated with natural gas, the carbon tax could add hundreds of dollars or more to annual heating bills over the next decade. Exact costs will depend on factors like home size, energy efficiency, and usage. But it's clear carbon pricing means natural gas heating bills will become more expensive over time.
Heat pumps provide an effective way to reduce exposure to rising carbon charges. These efficient electric heating and cooling systems don't burn fossil fuels. Instead, they use electricity to absorb and move heat. This makes heat pumps a form of low-carbon heating.
Homeowners who switch from natural gas to a heat pump system can benefit in two ways:
Heat pumps work especially well with the new overnight pricing plan. Most heating demand occurs overnight when utility rates are lowest. Smart thermostats can optimize the timing of heating and cooling to maximize savings.
Simply Smart Home specializes in the installation of electric heat pumps. We can install the right heat pump system for your home to reduce your heating costs and carbon footprint.
There are also great rebates available when you switch to a heat pump. Qualifying Ontario homeowners can receive up to $7,100 in federal rebates under the Home Efficiency Rebate program (HER) to offset the upfront costs.
The upfront investment in a heat pump system by Simply Smart Home quickly pays back through lower monthly utility bills, carbon tax avoidance, and rebates.
Heat pumps also have environmental benefits. When powered by Ontario's clean electrical grid, they produce very low greenhouse gas emissions compared to natural gas heating. Upgrading to this green heating solution helps reduce your home's carbon footprint.
To learn more about heat pumps and take advantage of lower carbon heating costs, contact Simply Smart Home today. We can assess your home and provide quotes for installing the ideal heat pump system. Act now to get ahead of rising carbon charges.