How Replacement Windows Can Save You Money

Windows That Need Replacement May Qualify You for Incentives

As a homeowner, you know that at one point or another you’ll need replacement windows. It’s just part of being a homeowner. While this will certainly result in an upfront cost, it also presents an opportunity to save some money. Skeptical you can save money by spending? Don’t be—it’s true! Especially if the windows that need replacing are not Energy Star® certified.

The Benefits of Energy Star® Certification

Energy Star® certification is the official mark of high efficiency products in Canada. The blue Energy Star® symbol means a product meets strict specifications and requirements. It also means the product is in the top 15 to 30 percent of its class for energy performance.

As such, replacement windows that are Energy Star® certified will perform and insulate better, which will translate into savings on future utility bills. But replacement windows won’t just save you money on your utility bills, they can also qualify you for tax credits and incentives.

With tax season already upon us, tax credits are something every Canadian is considering. Though Canada’s Home Renovation Tax Credit (HRTC) expired in 2010, it was replaced with the Home Energy Conservation (HEC) Program and the Home Winterproofing Program. Here’s a little information about the two:

The Home Energy Conservation Program

The Home Energy Conservation Program helps homeowners improve the energy efficiency of their home, lower their utility bills, and lessen their home’s impact on the environment. The program offers qualified homeowners up to $2,100 in incentives towards the cost of an energy assessment as well as the installation of recommended upgrades.

The Home Winterproofing Program

Homeowners that apply and qualify with the Home Winterproofing Program will be eligible to receive new insulation and draft proofing measures installed by professionals for free. Energy company Enbridge covers the cost of these installations.

These federal programs aren’t the only savings opportunities out there. There are also provincial rebates that may help homeowners offset the cost of replacement windows. In 2016, Ontario announced plans for a retrofit program. This will allot $100 million in financial incentives to help 37,000 households upgrade their furnaces, water heaters and insulation.

While replacing windows may carry an upfront cost, there are many rebates and incentives to help offset it. Additionally, by investing in new energy efficient windows your utility bills will lower and your quality of life will increase.

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