A federal investment of up to $87 million from Canada’s The Low Carbon Economy Fund and the Oil to Heat Pump Affordability Program will increase energy security and support climate action in Newfoundland and Labrador, with the provincial government contributing up to an additional $70.3 million toward both initiatives.
“The Government of Canada is helping Newfoundlanders and Labradorians save money on their utility bills while enhancing their home’s energy efficiency,” said Jonathan Wilkinson, Minister of Natural Resources, adding that the investment “builds on the progress of our Oil to Heat Pump Affordability Program and the Greener Homes Initiative, which have supported thousands of Canadian households to make the switch to an electric heat pump.
The Low Carbon Economy Fund funding will be divided into two parts:
- Up to $17.3 million for provincial Home Heating Oil Transition programming to enable low-income households to transition from home heating oil to low-emitting technologies, like electric heat pumps and electric furnaces.
- Up to $35.9 million for provincial initiatives that support Canada’s 2030 greenhouse gas emissions reduction target and align with Canada’s goal of net-zero emissions by 2050.
The additional $33.8 million in funding will be provided as part of the Oil to Heat Pump Affordability Program, in which eligible homeowners with low-to-moderate incomes can receive up to $10,000 in federal support when combined with funding available from the Canada Greener Homes Grant. These two programs have supported the installation of over 10,000 heat pumps in Atlantic Canada, including over 2,500 in Newfoundland and Labrador.
The Low Carbon Economy Fund has already supported projects in Newfoundland and Labrador, from fuel-switching from oil heating to electric boilers, to energy-efficiency improvements in low-income homes, schools, hospitals, and long-term care facilities.
“We’re pleased to implement a new program such as this one, that not only furthers our Government’s commitment to a green transition, lowering greenhouse gas emissions, but also enables economic development opportunities,” said Bernard Davis, Minister of Environment and Climate Change for Newfoundland and Labrador. “These multi-year initiatives will create greater labour certainty to trades people across several industry sectors, while directly supporting Newfoundlanders and Labradorians in making environmentally conscious choices aimed at reducing overall living costs.”
In Atlantic Canada, the federal government’s Greener Homes Grant and Oil to Heat Pump Affordability Program have supported the installation of 2,342 heat pumps in Nova Scotia; 2,525 in Newfoundland and Labrador; 5,422 in New Brunswick; and 470 in Prince Edward Island.
