Exploring Your Options
Are you looking to complete energy saving upgrades for your home but cannot afford to upgrade within your current budget? Consider exploring the financing options below. Your lower energy bills can help with paying back the loan, while you enjoy a more comfortable and eco-friendly home.
Bank or Credit Union Options:
Contact your bank or local credit union to learn about financing options. Some financial institutions have specific offers for energy efficiency upgrades, including those listed below:
Are we missing a financing option? Contact us and let us know.
FortisBC Heat Pump Loans
If you are upgrading your electric furnace or baseboard heaters to a high-efficiency air source heat pump you may want to look into the FortisBC Heat Pump Loan options. In order to be eligible for this program your primary and backup heating system must be electric. Additionally, you must be a residential FortisBC electricity or municipal* electricity customer. The loan is up to $6,500 at 1.9% fixed interest rate, over ten years and can be paid out at any time with no penalty. Customers can apply for the Heat Pump loan or Heat Pump rebate but not both.
*Must be located in Grand Forks, Penticton, Summerland, or Nelson Hydro.
Nelson EcoSave Financing
On-bill financing is a financial loan service available to Nelson Hydro customers. The customer will repay the on-bill financing loan on their regular Nelson Hydro utility bill, through automatic withdrawal. The loan is based on approval and is available to those who reside within the City of Nelson. See the On-Bill Questions & Answers page for more details.
Penticton Home Energy Loan Program (HELP)
HELP is available to City of Penticton residents who complete eligible energy efficiency upgrades. To qualify, you must be a Penticton Electric Utility customer, meet City of Penticton credit approval and currently own & reside in the home being upgraded. The maximum loan amount is $10,000, to be repaid over 10 years on your monthly Electric Utility bill. The City of Penticton HELP program will run until December 31, 2019.
Speak with your home improvement contractor to find out if they offer any financing packages for upgrades.