Upgrading or Renovating? Don’t Forget to Take Advantage of These ‘Green’ Tax Credits

    While the Government of Canada recently put an end to its popular tax credit ecoENERGY Home Retrofit Program back in January 2012, there are still ways for British Columbia residents to get money back for going green. Specifically, the Government of British Columbia has its LiveSmart BC program, which provides rebates to homeowners making environmentally friendly upgrades or renovations. The maximum rebate was reduced in 2013 from $7000 to $3500, but there are still many savings to be had. Here are a few of the main green home renovation and upgrade rebates that the program offers.

    Remote home control
    Remote home control

    Insulation Based Upgrades Have Significant Savings Attached

    Are you planning on upgrading the insulation in you attic, roof, exterior walls, basement, crawlspace, or floors? If so, the LiveSmart BC program can offer you a number of different rebates that could give you money back up to the newly revised maximum of $3500. The precise amount you could receive for each specific upgrade varies depending upon your actual location within the province. For homeowners living in and around Kelowna and the rest of the BC Interior, attic and roof insulation upgrades will get you up to $750 in rebates, exterior walls up to $1500, basement walls up to $1250, basement headers up to $125, crawl space walls up to $1000, crawl space flooring up to $550, and exposed flooring up to $225.

    Rebates Available for Upgrading to Energy Efficient Furnace

    Another significant rebate you can receive as a homeowner under the LiveSmart BC program is for upgrading to a more energy efficient furnace, which has a maximum rebate amount of $700. The amount you can get back for this particular rebate is entirely dependent upon the ENERGY STAR annual fuel utilization efficiency (AFUE) rating. For homeowners who live in Kelowna within the BC Interior, a new gas furnace with an ENERGY STAR AFUE of 95% of higher and a DC variable speed motor will earn a rebate of $600. Gas furnaces with a 90% AFUE and DC variable speed motor will earn you a $300. The certified installation of either qualifying unit by an approved professional can add on an additional rebate of $100.

    Water Heater Upgrades Also Offer Rebate Opportunities

    The LiveSmart BC program also has rebate coverage for upgrades to water heaters. Similar to the available furnace rebates, those for water heaters are also dependent upon the unit you install meeting certain energy efficiency standards. Each of the rebates are for the same amount across the province and include a $300 rebate for those who purchase an instantaneous gas condensing ENERGY STAR water heater with a 0.90 Energy Factor, $200 for those who purchase a gas ENERGY STAR water heater with a 0.82 Energy Factor, $300 for those who purchase a condensing gas storage water heater that has 94% thermal efficiency, and $200 for those who purchase a condensing gas storage type with 90% thermal efficiency.

    Making green lifestyle changes can put significant money back in your pockets in British Columbia via the government’s rebate program. Some of the most significant savings are offered for efficiency upgrades to your home’s insulation, furnace, and water heater. So while you’re doing your part to be a little more environmentally friendly, you may as well take advantage of these provincial rebates while they last.

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