B.C. program offers low-interest energy retrofit financing
British Columbians wanting to switch from fossil fuel-based heating to heat pumps now have access to low-interest financing as part of CleanBC. Through the CleanBC strategy, the government has allocated $4.1 million to support the Low-Interest Financing Program through 2021-22.
Depending on the type and efficiency of heat pump chosen by homeowners, the loans will have interest rates as low as zero per cent over a five-year repayment period. These loans are being offered as an alternative to CleanBC home-heating retrofit rebates.
“Through CleanBC, we’re supporting clean technologies like heat pumps that will reduce climate pollution and help families save on energy costs,” said Bruce Ralston, Minister of Energy, Mines and Petroleum Resources. “This innovative financing program will help British Columbians make the switch to clean energy and ensure their homes are as efficient, comfortable and affordable as possible.”
The Province’s CleanBC program aims to reduce the environmental impact of existing buildings and to waste less energy.
Canadian firm Financeit will manage the low-interest loan process, which conforms to all Canadian finance and privacy requirements. Specially trained contractors will guide homeowners through the online loan approval process on site or remotely – in most cases providing on-the-spot loan approvals.
To learn more about the new low-interest financing program, visit: https://betterhomesbc.ca/rebates/financing/