TRREB: Ontario’s Home Renovation Savings Program – A Win for Homeowners and Energy Efficiency

TORONTO, Jan. 08, 2025 (GLOBE NEWSWIRE) — High energy and construction costs are hurting families and individuals across the Greater Toronto Area (GTA). The Toronto Regional Real Estate Board (TRREB) commends Minister Lecce and the Government of Ontario for the launch of the Home Renovation Savings Program, coming into effect January 28, 2025. This new program is a win for homeowners, helping them save money on their energy bills while advancing energy efficiency throughout the province.

The Home Renovation Savings Program, part of Ontario’s $10.9 billion investment in energy efficiency, provides rebates of up to 30 per cent for home renovations, including new windows, doors, insulation, smart thermostats, heat pumps, rooftop solar panels, and battery storage systems. This initiative empowers homeowners to invest in energy-efficient upgrades, reducing long-term energy costs and enhancing property values.

The program offers homeowners an opportunity to reduce energy costs and improve living spaces sustainably. Making energy-efficient upgrades more affordable also contributes to broader housing affordability by lowering ongoing utility expenses for individuals and families.

TRREB remains committed to supporting policies that help homeowners make informed decisions benefiting both their families and the environment. The Home Renovation Savings Program reflects our commitment to supporting initiatives that encourage homeowners to make environmentally conscious choices through incentives, rather than imposing mandatory requirements.

Elechia Barry-Sproule
TRREB President

Media Inquiries:
Maria Karafilidis, Manager, Public Affairs maria.karafilidis@trreb.ca 416-443-8139

About TRREB:
The Toronto Regional Real Estate Board is Canada’s largest real estate board with over 73,000 residential and commercial professionals connecting people, property and communities.