The plan is aimed towards reducing the Canadian province's carbon footprint.
The Ontario provincial government is planning to spend more than $7-billion over four years on a comprehensive climate change initiative that will include incentives for energy efficiency building retrofits, according to a report in the Globe and Mail.
The plan, aimed at reducing Ontario’s carbon footprint, will also include:
- Phasing out natural gas for heating
- Rebates to drivers who buy electric vehicles
- Requirements that gasoline sold in the province contain less carbon
- Building code changes to require all new homes to be heated with electricity or geothermal systems by 2030
- A target for 12% of all new vehicle sales to be electric by 2025
Some $3.8-billion will be available for new grants, rebates, and other subsidies to retrofit buildings, and to move heating from natural gas to geothermal, solar power, or other forms of electric heat. Many of these programs will be administered by a new Green Bank, modeled on a similar agency in New York State. The plan may still be fine-tuned, and will be officially released to the public in June, the Globe and Mail reported.