Posted on Tuesday December 01, 2020

Well-planned green renovations: The best way to save money

There’s no shortage of ideas when it comes to renovating a property to make it greener, from better insulation to an updated heating system and more. But all these ideas beg the question: Can you really afford it? There’s really no reason to forgo green renovations since, when properly planned, they can cost less and generate long-term savings on your day-to-day bills.

Renovations for your comfort, your wallet and Mother Nature

Are green renovations just for show? Only if you make green the colour of your kitchen! In that case, opt for recycled or solvent-free natural paint to reduce chemical emissions. Eco-friendly or not, it’s nicer to live in a well-maintained home that retains a better resale value.

When buyers show up to visit your home, they want a turnkey product. This means that if your kitchen is outdated and your windows need to be replaced, you’re not at an advantage. Your green renovations can be combined with other projects that will increase the value of your property.

The positive impact of your renovations on the environment

Even if each individual improvement won’t turn the tide by itself, it’s still worth it. The environment is everyone’s business. So where do you begin?

Remember the term: Energy efficiency

Air pollutants and greenhouse gases have an undeniable impact on the environment and are emitted in large part by energy production and consumption.

New Brunswick ranks fifth in Canada in terms of per-capita energy consumption. So reducing your energy consumption is a great way to help the planet! Consider whether the materials you choose are renewable or non-renewable, how much water is used to process them and the emissions transporting them generates. The options you choose will depend on your values and budget.

The best green renovations

There’s no place like home, especially when your home reflects your values. Sometimes when you start a project, the endless options can be overwhelming. To keep your feet on the ground, explore everything available to you and make choices based on your priorities while staying flexible. Some renovations are necessary, while others are optional. In other words, only do them if your budget allows it.

Green renovations to start you off on the right foot:

• Door and window insulation: Replace your pink fibreglass insulation with hemp wool, wood wool or cellulose products.
• Energy-efficient electricity and water systems: Instead of your old oil furnace and toilet that flushes an ocean every time, get an air-source heat pump or a low-flow toilet.
• Transportation and manufacturing: Consider selecting locally manufactured building materials to reduce carbon emissions.
• Lighting: Replace light bulbs with energy-efficient fixtures such as LED lights.
• Floors: Tired of floating floors? Opt for recyclable flooring such as bamboo and recycled paper carpet.

Solar energy

If you’re highly motivated and into the latest technology, why not install solar panels on your roof to further reduce your energy consumption? Who knows, you might even become a pioneer in your neighbourhood! Photovoltaic panels are perfect for seasonal use. Currently, the profitability of installing solar panels on a home is not certain in New Brunswick, but the Canadian government’s projections are optimistic.

Wind energy

Mother Nature is generous, and New Brunswick is no exception. Could a gentle breeze power your home? If you’re thinking about wind energy, there are several things to consider, such as location (installation must be permitted by municipal bylaw) and the number of blades required to meet your needs. The initial installation cost of several thousand dollars must be combined with the cost of other work, such as optimizing insulation, to avoid energy loss and make your choice profitable.

Geothermal

Optimal insulation, solar panels...what more could you ask for? A geothermal pump could very well complete the picture.

At a certain depth, ground temperature is stable regardless of the season. In Canada, that temperature is between 5°C and 10°C. A ground-source heat pump uses the difference in temperature between the ground and your home to heat or cool it. Electricity is required to operate a ground-source heat pump, and that’s where your solar panels come into play!

Government assistance for your green renovations

If you don’t ask, you won’t receive! Your renovation project may be eligible for a government assistance program.

Canada Mortgage and Housing Corporation offers a partial refund of the cost of mortgage insurance to homeowners who qualify for its Green Home program. If you make energy efficiency improvements to your home, you may be eligible for a partial rebate of up to 25% of your mortgage insurance premium.

In New Brunswick, NB Power offers a rebate program to encourage residents to improve the insulation in their homes. The process begins with a visit from a consultant who will conduct an assessment of existing insulation and air leakage. You will then get a roadmap for your renovations. The amount of the rebate is based on the R-value of the existing insulation, a measure of its performance.

Consider incorporating these incentives into your budget—since you’ll be drawing up a budget anyway! By planning your renovations well, you can avoid unpleasant surprises.

The right tools for financing your renovations

Establishing a humbler relationship with the planet is increasingly becoming a requirement for all humans.

UNI is here to support you financially in your green renovation projects, whether to enhance the value of your property or to bring your environmental values to life. Make an appointment to meet with a UNI advisor, who will be pleased to assist you in this venture.