ecoEnergy Savings Still Possible

The energy audit program ended in Ontario over a year ago but it’s important to remember that a good portion of its job was to help newer energy efficient technologies get a foothold in an inefficient market.

Case and Point

Tankless water heaters – A relatively new technology that can provide all of your homes hot water on demand.  With a tankless there is no need to maintain 40 or 50 gallons of water hot 24 hours a day 7 days a week.  CMHC studied these systems and determined that on average Ontario home owners that employ a tankless will reduce water heater energy consumption by 46%.

The ecoEnergy program offered grants of 375$ for homeowners that upgraded to a tankless.  This help to offset some of the additional money a tankless system cost and many people decided take advantage of this offer while available.  The interesting this is that tankless technology has only improved since the program ended yet prices for an installed system have continued to decline.Tankless Water Heater

For example – We inquired with GoTankless.ca a local Toronto tankless installer and they told us their cost for a system has dropped by roughly $750- $950 for a tankless compared to a few years ago.  They said they were able to pass those savings on to the customer.  A fully installed tankless can now be sold for less than $2500 where they could easily hit the $3600-$4000 range just a few years ago.

Tankless water heaters have now got a strong foothold in the Ontario marketplace and the past incentives helped the systems gain traction and employ economies of scale needed to reduce prices and add competition.

Interested in a tankless?

Both tankless companies we talked to in Toronto offer FREE quotes and information pertaining to water heaters.  Check out their websites below.

GoTankless.ca

Tanklesshotwaterguide.ca

 

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