海角社区官网

As hundreds of thousands of homeowners in 海角社区官网need to replace their furnaces in the coming years, using a heat pump instead 鈥渋s the most impactful single thing we can do to reduce emissions,鈥� said Chow.

Heat pumps are more energy efficient than a gas furnace and can cost the same or less, depending on natural gas prices, the Star has reported.

Installing one could also reduce a home鈥檚 greenhouse gas emissions by 60 per cent or more, which would aid the city鈥檚 goal of reaching net zero emissions by 2040. More than half the city’s greenhouse gas emissions come from buildings.聽

The funds for the loans were set aside in last year鈥檚 budget, said聽James Nowlan, the executive director of the city鈥檚 Environmental and Climate Division. He estimates a typical loan would amount to between $10,000 to $15,000.

The cost of installing a new heat pump might be more than getting a new furnace, but with the low-cost loans and available rebates, including $2,000 from the province, it鈥檚 a 鈥済ood deal,” Chow said.

The for the loans range from five years at 3.25 per cent to 20 years at 4.72 per cent, with an additional administrative fee.聽

鈥淲ith the loss of the federal Greener Homes Loan program, it鈥檚 great to see municipalities stepping in and doing their part,” said Bryan Purcell, vice-president of policy and programs at climate solutions non-profit The Atmospheric Fund. “Financial constraints and a lack of knowledge about energy-efficient options are often two of the biggest barriers for residents looking to upgrade their systems.”

Purcell also lauded a proposed expansion to the program next year to include installation services and incentives for low to moderate income homes.