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Jan 3, 2024

Job gains not enough to offset surging labour force growth

The Canadian government has launched the Oil to Heat Pump Affordability (OHPA) program in Newfoundland and Labrador, a strengthened program to help residents of the province save money on their energy bills. Given that the cost of home heating oil is the highest and most volatile compared with its alternatives and continues to increase, largely due to geopolitical events, switching to a heat pump also protects households from fossil fuel price spikes outside of Canada's control — leading to even more savings.


Under the program, low-to-median-income households in Newfoundland and Labrador can now apply here to receive up to $22,000 in funding to cover the full, average cost of switching to a heat pump — including up to $15,000 from the federal government's OHPA program and another up to $7,000 from the government of Newfoundland and Labrador and other federal funds.


Heat pumps are two-to-three times more efficient than oil furnaces. The fact that heat pumps simply move heat, rather than generate it, is a large part of why they are more efficient and less costly than alternatives. 

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