OHBA Welcomes the Ministry of Energy and Electrification’s Announcement of Funding for Energy Efficiency

Today’s Announcement of $10.9 Billion in Funding Will Save Homeowners Money and Support the Renovation Sector

/EIN News/ -- TORONTO, Jan. 07, 2025 (GLOBE NEWSWIRE) -- The Ontario Home Builders’ Association (OHBA) was very pleased to attend the Ministry of Energy and Electrification’s announcement today of $10.9 billion over 12 years in new funding for energy efficiency, including the new Home Renovation Savings Program set to launch at the end of January 2025.

The Home Renovation Savings Program should help save homeowners thousands by offering rebates of up to 30% on projects including new windows and doors, insulation, air sealing, smart thermostats, heat pumps, and more, encouraging homeowners to pursue these renovations and improvements. And in turn, supporting the professional renovation sector, a crucial component of the housing industry.

"This investment of $10.9 billion over 12 years in energy efficiency programs highlights the ongoing commitment of Ontario’s Minister of Energy and Electrification, Stephen Lecce, to help Ontarians save on energy. OHBA welcomes this announcement, in particular, the new Home Renovation Savings Program, which will help homeowners save money on energy efficiency projects and boost activity in the professional renovation sector, which is responsible for over 350,000 jobs in Ontario,” said Scott Andison, CEO of OHBA.

With the challenges that the professional renovation sector has faced in recent years, initiatives like the Home Renovation Savings Program are essential to supporting an industry that is vital to the province’s economy. Not only is the renovation sector responsible for hundreds of thousands of jobs, but it also contributes over $25 billion in wages and $50 billion in investment to Ontario’s economy.

“The Ministry of Energy and Electrification has been focused on delivering affordable, efficient energy to Ontarians through a series of innovative programs, including in the Affordable Energy Act,” remarked Kirstin Jensen, Vice President, Policy, Advocacy & Relationships at OHBA, who attended the announcement this morning. “These new programs are yet another move in the right direction that will benefit everyone in the province, including renovators and the larger residential construction industry.”

With the growth the province expects in terms of population and energy needs, the Ministry’s acknowledgement of energy efficiency as a priority for home building will prove essential to the province growing sustainably in the long term and making homeownership attainable for Ontarians.

About the Ontario Home Builders’ Association

Founded in 1962, the Ontario Home Builders’ Association (OHBA) is the voice of the residential construction industry in Ontario. It represents over 4,000 member companies in the home building, land development, professional renovation, and professional services sectors through 28 local chapter associations across the province. OHBA advocates on behalf of its members to key stakeholders, provides member benefits and training, and promotes innovation and professionalism within the residential construction industry.

For any media inquiries, please contact:

Andres F. Ibarguen
Senior Manager, Communications
(416) 217-6790
aibarguen@ohba.ca