Image: F. Delventhal/Flickr
In May 2009, the Ontario government signed into law the Ontario Green Energy Act. Although most of the law came into effect in October, the portion that most directly relates to real estate – the regulation of energy efficiency – has yet to be made law. When it does, it will give consumers powerful new information about the environmental efficiency of their new home. However, it will make selling homes potentially more complex, and so any consumers planning on entering the real estate market should understand its implications.
The bill makes it mandatory for home sellers and their agents to disclose upon request to any buyers the energy efficiency and energy consumption of a home. Energy Assessments (EA) – which are currently available, but on a voluntary basis – can be performed by a number of professionals certified by the Natural Resources Canada’s Office of Energy Efficiency. If you have trouble finding one, the NRCan website provides a list of auditors. Home EAs cost $325, but the new Energy Act enables consumers to get a reimbursement of $150 from the Ontario government.
An EA will take roughly an hour and a half to two and a half hours. The assessment includes: measuring the entire house; an inspection of the entire house from top to bottom; a wind simulation to determine air leakage; a modeling of your home on a computer to determine the most effective ways to improve its energy efficiency; a rating that gives you an indication of how energy efficient your home is, and whether it is better or worse than other homes. If you are having difficulty affording improvements to raise your house’s energy efficiency, there are also rebates and incentives to help you.
The EAs will also give both buyers and sellers information about the house’s energy consumption. The city of Toronto estimates that homes produce nearly a quarter of that city’s greenhouse gas emissions, and reducing housing’s carbon footprint could substantially reduce the country’s overall footprint. As well, with the potential for rising energy costs in the near future, having this energy efficiency information is definitely something that every buyer should have. You don’t want to find out after you bought it that the beautiful Victorian is going to bankrupt you from its energy bills!
With this new act, energy consumption and energy efficiency are important things to consider when you buy or sell your home. To get more information about this new piece of legislation, visit the Ontario Government’s website
Nelson Goulart
Broker of Record with Signature Service GMAC Real Estate
www.ssgmac.ca
