The NB Power head office in Fredericton. Image: Submitted/NB Power

New Brunswick is investing an additional $40 million to help homeowners and renters make their homes more energy efficient and manage their energy bills.

The funding will be split into two portions, the first $20 million will go to the recently announced Enhanced Energy Savings Program that offers a free mini-split heat pump and upgraded insulation.

It also includes free installation of both for homeowners who use electric baseboard heating and have a combined gross household income under $70,000.

“Since announcing the Enhanced Energy Savings Program in September, we have been asked to do more,” said Natural Resources and Energy Development Minister Mike Holland.

“As we are coming into winter, I am happy to announce an additional $40 million to help New Brunswick homeowners and renters make their homes more efficient and deal with rising energy costs,” added Holland.

As well, homeowners in the same income bracket, but have an alternate heating source are eligible for upgraded insulation that is free of charge.

“We have had a tremendous response to the Enhanced Energy Savings Program and this additional funding will help us respond to the demand,” said Lori Clark, acting president and CEO of NB Power.

“We will continue to expand our programs for the benefit of New Brunswickers today and in support of our mission to move to cleaner energy for the benefit of future generations,” added Clark.

Homeowners participating in the program can expect to reduce their energy expenditures by about $500 annually.

The other $20 million is for homeowners who want to transition away from heating with oil furnaces.

To transition from heating with oil, it is most efficient to convert to alternative central heating systems. Program details of this initial investment are still being finalized and will be available soon.

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