Costs and Rebates of the New Carbon Tax

Published on November 05, 2018

 

Costs and Rebates of the New Carbon Tax

 

Residents of Ontario, Saskatchewan, Manitoba, and New Brunswick are set to receive federally regulated rebates on their next tax return, in order to cover the increase in gas and utility costs that the new carbon tax is set to levy.

 

As these four provinces do not have a carbon pricing system in place, they will be unable to provincially control the distribution of income that they receive from taxing emissions.

 

Instead, the federal government will have control of how the income gained from the carbon tax will be used, and has said that 90 percent of the money made will be rebated directly to residents of the province from which the money was collected.

 

The remaining 10 percent is to be going towards helping hospitals, schools, and businesses develop green energy solutions and to help offset the new carbon tax.

 

The federal government has estimated that the average household will receive more from the rebate than what the new carbon tax will cost them.

 

For the average Ontario household in 2019, the carbon tax is expected to increase yearly costs by $244, with the average rebate netting $300. This is expected to rise to an increase of cost by $564 in 2022, with the average rebate totalling $697.

 

In Saskatchewan, the average increase in cost for 2019 is expected to be $403; the average rebate being $598. By 2022, the average cost is estimated to be $946, with the average rebate totalling $1,419.

 

Manitoba residents are expected to receive a rebate of $336 and an increase of costs by $232 in 2019, and by 2022, a rebate of $797 and a cost increase of $547 is expected.

 

The average household in New Brunswick is estimated to have a $202 cost increase in 2019, as well as a $248 rebate. By 2022, the cost increase from the carbon tax is expected to total $470, and the rebate $583.

 

Home Efficiency and Reducing Greenhouse Gas Emissions

 

Even minor improvements to your home’s energy efficiency can have a significant impact towards reducing your carbon footprint; as well as working to lower your utility bill, improving interior air quality, and increasing your at-home comfort.

 

The best place to start when considering improving your home’s energy efficiency is by contacting a building envelope consulting firm such as Barrier Sciences Group, and having our Registered Energy Advisors conduct a Home Energy Assessment. This allows our advisors to gain a clear picture of your home’s efficiency, along with helping them obtain all of the information they need in order to present you with a list of what areas would be the most cost-effective to improve or modify. Included in this list may be suggestions that are as simple as: sealing leaky areas with caulk, or improving the level of attic insulation.

 

Affording to improve home energy has also been made easier, as there are a number of Union Gas rebates for home renovation currently available. Our Registered Energy Advisors are happy to explain and look over which rebates would be the best for your home, as well as help you and your home qualify for them.

The New Home Efficiency Rebate offers rebates up to $5,000.

There’s great news for homeowners who are planning to do residential renovations or upgrades! The new Home Efficiency Rebate offers up to $5,000 back for home energy upgrades. By doing renovations or upgrades that will improve a home’s energy efficiency, homeowners may be eligible for substantial rebates of up to $5,000 from Enbridge and Union Gas. Simply put, there are long-term payoffs with an energy efficient home.

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