VANCOUVER, British Columbia, Oct. 16, 2024 (GLOBE NEWSWIRE) -- With the cost of living top of mind for Canadians, a new Clean Energy Canada report finds that making a few clean energy changes to your household can save hundreds of dollars a month for families. And now residents across the country can get a snapshot of their own potential savings via a new online calculator.
A household in Toronto that switched its gas cars for electric versions, swapped out its natural gas appliances, installed a heat pump, and made some modest energy efficiency upgrades would cut $550 off its monthly bill, even taking into account upfront costs. A similar house in Vancouver could save $777. What’s more, these families would reduce the carbon footprint of their cars and homes by more than 90%.
The new report and calculator detail the savings for condos, townhouses, and detached houses in every province in Canada. Notably, switching your fossil-fuel-powered car for an electric equivalent saves money in every region of the country, while installing a heat pump saves money in most provinces.
But despite the savings benefits of clean technologies, the barrier to entry for many Canadians is higher than it was a year ago. For one, the federal government’s Greener Homes Grant (that offered up to $5,000 off the price of a heat pump and other energy-saving measures) has been discontinued, though it is set to be replaced by a program assisting low- to median-income households.
Also, many of the most affordable and best-selling EVs in Canada have either increased in price or disappeared. Production of both the sub-$45,000 Chevrolet Bolt and the Kia Soul EV has been paused or discontinued, and now the cheapest Tesla Model 3 will no longer be available in Canada following new tariffs imposed on Chinese-made EVs.
Combined with varying provincial government support, Canadians have increasingly unequal access to the cost savings that come with ditching fossil fuels. A median-income family in Vancouver can access a $4,000 provincial rebate toward an EV (in addition to the federal government rebate) and $12,000 to swap their gas furnace with a heat pump, while the equivalent family in Toronto enjoys no support from their province.
As the report concludes, all levels of government must take action, offering rebates to cut upfront costs, improving charging access, simplifying financing, and improving electricity rates to further incentivize cleaner options.
The door to cleaner homes and lower bills must be open to all Canadians.
KEY FACTS
- Canadians from coast to coast can now get a snapshot of how much they can save from EVs, heat pumps, and energy efficiency upgrades via a new calculator: mycleanbill.ca.
- EVs are cheaper over their lifetime in every province in Canada.
- Opting for an electric Volkswagen ID.4 instead of a gas-powered Honda CR-V would save a driver around $3,000 a year over the lifetime of the car.
- Another study found that energy prices are the most volatile component of inflation in the country.
- Europeans can choose from at least 12 different electric options with a purchase price of less than C$45,000, compared to just three in Canada.
- EVs represented 24% of all vehicle sales in Europe in 2023 compared to 12% in Canada.
- The federal Electric Vehicle Availability Standard (which requires automakers to make an increasing portion of EVs available for sale) will be key to incenting automakers to bring more affordable EVs to market, according to the Parliamentary Budget Officer.
RESOURCES
Report | Opening the Door
Calculator | My Clean Bill
CONTACT
Keri McNamara
Manager, reports and outreach
778.951.8060
