As 2016 comes to a close, we still have few details about the proposed Home Energy Rating and Disclosure (HERD) program. The program aims to incentivise energy upgrades in homes by finally enacting mandatory labeling of houses at point of sale, which has languished on the books since Dalton McGuinty’s time in office with the Green Energy Act.
Ministry of Energy spokes person Aslan Hart says “The evaluation of a home’s energy performance is useful information for both sellers and buyers to identify and compare the energy efficiency of properties and encourage energy efficiency improvements prior to sale.” And the Ontario Home Builders Association agrees! The potential for revenue generation is huge for the province in terms of spin-off from the renovation sector.
“When Ontario’s cap-and-trade program starts up [in 2017], it will bring in about $2 billion annually. Millions of dollars will flow toward retrofit programs, and the province will likely cover the cost of the [Home Energy] audits themselves (about $300 each).” says TVO’s Brian Platt.
On a delivery note, the province may need as many as 1900 new energy auditors which is a huge jump from the handful of energy auditors left from the last program… Stay tuned!