Have you ever hesitated to turn up your heat because you were concerned about the cost? According to the Pembina Institute, Canadians spend 90% of their time indoors, as do many others in northern climates. Spending so much time indoors means we need better, more efficient ways of heating our homes (that don’t involve wearing multiple sweaters to stay warm).
How can ETS lower my heating bill?
The average Canadian spends more than $3,400 per year on space heating and hot water (Natural Resources Canada, 2012; Efficiency Nova Scotia, 2018). Home heating and hot water are also the leading sources of residential greenhouse gas (GHG) emissions, equal to 12% of Canada’s total GHGs.
Shifting space heating and hot water to electricity is essential for the clean energy revolution, and since high energy costs take a serious toll on your household budget, electric thermal storage (ETS) can be an excellent way to lower your heating bill and begin converting from heating oil to electricity.
Using ETS can lower your bill by leveraging Demand Response utility programs that provide discounted electricity rates when demand is lowest. Most commonly, Time-of-Day (also called Time-of-Use) electricity rates encourage customers to shift more of their electricity consumption to nights and weekends by offering a cheaper rate during these periods, and increased rates during weekdays. This program levels out demand, increases the capacity for renewables, and makes the grid more reliable. If you use ETS to heat your home, you will see up to 50% savings on your heating bill.
These programs are set by your local utility and vary by jurisdiction (For example, see Nova Scotia’s rate structure here. Check with your local utility about Time-of-Day pricing).
The Neothermal ETS Difference
Neothermal ETS is supplemental, meaning that you can add the benefit of ETS to your existing furnace or boiler and hot water system at a much lower cost than a complete conversion to electricity, and begin saving on energy costs today. By keeping your existing systems as back-up to Neothermal ETS, you will reap all of the benefits of the cheaper off-peak TOD rates, with no penalties from the higher on/mid-peak rates for your heating and hot water.
This kind of incremental conversion to electricity has been the missing piece of the puzzle for getting homes off of fossil fuels, and when you are ready to replace your oil-fired heating equipment, Neothermal ETS will continue to work with your new fully electric heating equipment.
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