Did you ever wonder how energy efficient your home is? Well you may be required to find out. If the provincial government passes the Green Energy Act, Ontario residents will have to add another task to their to-do list before they can sell or lease out their home.
Bill 150, the Green Energy Act would force home owners to provide information on how energy efficient their home is before selling or leasing the property. A home energy audit assess how much energy your home uses and if and how you can improve efficiency and lower your utility bills. Methods on how this audit will be conducted and determined will be established by the provincial government. This legislation has not yet been passed.
For many, many years, Ontario real estate association and other organizations have been encouraging the government to offer incentives to home owners to voluntarily make their homes more energy efficient. Now that this bill has been proposed the Ontario Real Estate association is concerned. They are hoping the Green Energy Act audit will be voluntary (with incentives) and NOT mandatory in a real estate transaction as the bill proposes.
This bill excludes Commercial and Industrial properties.
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