Incentives and Rebates

The following is an analysis of four programs that are offered through various jurisdictions throughout Canada. Each program was created to provide financial incentives for different circumstances in which individuals can help the environment:

1. Drive Clean Emission Test Exemption:

In Ontario, gasoline-electric hybrid vehicles do not have to be tested every two years as regular cars do. Typically, regular cars with a mass less than 4500 kg have to be tested every two years starting five years after its model year.

I like this idea because it allows gasoline-electric hybrid vehicles to have some lenience. I believe this lenience is well-deserved as they are participating in measures to help our environment.

I believe this incentive is effective for two reasons. First, the hybrid vehicle owners save $35 every two years by being exempt from the Drive Clean test. This could amount to a respectable sum of money over the vehicle’s lifetime. Second, by being exempt from this test, a significant inconvenience is lifted off the owner’s shoulder, so to speak. They no longer have to take time out of their schedule and attend a Drive Clean test appointment.
Although, the incentive appears to be small at first glance, I believe it is both beneficial and effective. I know I would consider buying a hybrid car especially with this test being eliminated.

(http://www.incentivesandrebates.ca/gc_fi_search_display.asp?id=128&jurisdiction=0&actionArea=0&keyword= )

2. Existing Homes Energy Efficiency Upgrades Program:

Although this program is not from Ontario, I believe it is such a good idea that Ontario should implement it as well. The province of New Brunswick has created a very impressive program relating to home renovations. Single-family homeowners are qualified for an interest-free loan of up to $10 000 or a rebate of 20% for up to $2000. The homeowner must get an evaluation of the home that is accompanied by a list of recommendations for the home. The homeowner also gets a $100 coupon to go towards this evaluation. Upon completion of a second evaluation (after the renovations are completed) within eighteen months of the first evaluation, they can choose between their two options: interest-free loan or the rebate.

I believe this is a magnificent idea because it allows the homeowner to make renovations to their home, whilst making a significant improvement to the environment by saving energy.

I believe it is very effective because it will attract a great deal of people to make renovations of their home. Even if a person isn’t interested in helping the environment, they will want to make the renovations to their home. Therefore, people will be making an improvement in the environment whether they know it or not! I strongly believe that Ontario should follow in New Brunswick’s footsteps and should adopt this program as well.

(http://www.incentivesandrebates.ca/gc_fi_search_display.asp?id=207&jurisdiction=0&actionArea=0&keyword= )

3. Citizens Bank Clean Air Auto Loan:

Through federal jurisdiction, the Citizens Bank offers its clients prime rate loans when they are buying a gasoline-electric hybrid car. Over the maximum five-year loan term, an individual could save up to $3000.

I like this idea because it allows those concerned with helping the environment to save money. In addition, it is refreshing to see corporate businesses to show an interest in the environment and to help alleviate the costs of a new automobile.

I think this program is very effective because those considering buying a new hybrid vehicle will now have a viable means to finance such a purchase. In addition, those who were not necessarily considering a hybrid car, but were thinking of buying a new vehicle, may now consider buying a “green” car to save money. Nonetheless, this program is promoting environmental awareness and is providing substantial financial assistance.

(http://www.incentivesandrebates.ca/gc_fi_search_display.asp?id=250&jurisdiction=10&actionArea=0&keyword= )

4. Summer Savings 10/10:

This program is designed to cut down on energy usage in Ontario. If a residential consumer cuts his/her energy use by 10%, then they will receive an additional 10% off their power bill. This program has been announced, but has yet to be activated.

I like this program because not only does it provide financial incentives, but it also calls on consumers to cut their energy usage. If each resident of Ontario cuts their energy usage by 10%, then a significant amount of energy will be conserved.

I believe this is an effective program because it provides a financial cut in the consumer’s electric bill. If a consumer cuts their usage by 10%, not only will their electric bill be less, but they will receive an additional 10% off (in effect, saving 20%). Providing incentives for consumers to cut back on their energy usage is both economically smart, but environmental smart as well.

(http://www.incentivesandrebates.ca/gc_fi_search_display.asp?id=249&jurisdiction=10&actionArea=0&keyword= )