Who doesn't want to save money on their electricity bills? Need help deciding which improvements will have the most impact? Looking for an affordable way to finance your home energy improvement project? The City of Penticton is offering its residents solutions to these questions!
Through its Energy Retrofit Loan Program in conjunction with LiveSmart BC's Efficiency Incentive Program, the City of Penticton is offering residents up to $10,000, in loans to be put towards upgrading their home.
The Energy Retrofit Loan Program [PDF - 152 KB] is a loan service available through the City of Penticton for eligible energy efficiency upgrades made by the City of Penticton residents that own and occupy their own homes. Upgrades include (but are not limited to) insulation, reducing air leakage, and installing more efficient space and water heating systems, doors and windows. To qualify, you must be a Penticton Electric Utility Customer, meet City of Penticton Credit Approval and currently reside in the home being upgraded. That's it! As mentioned the maximum loan amount is $10,000, which is payable on your monthly Electric Utility Bill, what could be easier?
As an added bonus The Energy Retrofit Loan Program can be used for the same energy efficiency upgrades that are eligible for additional REBATES through the LiveSmart BC Efficiency Incentive Program and improvements as recommended in an Energy Assessment. Your home will also receive an EnerGuide(R) for Houses rating. This means Big Energy Savings for you, and a Smaller carbon footprint for the environment - Win Win!
But what does the loan actually cost? - Well here are the details I found on the website;
- The maximum loan amount is $10,000, and features a 10-year amortization.
- The interest rate is fixed at prime + 0.50%, and is fixed at the time the loan is granted.
- Monthly loan payments will be made on the City Electric Utility bills.
- The loan can be repaid in full or in part at any time without penalty.
Want to Learn More? follow the links provided or contact the Electric Utility Secretary Kim Kirkham at 250-490-2539 or the City of Penticton at 250-490-2400