More Central Saanich residents are now eligible to take part in an innovative zero-interest financing program that helps homeowners install a heat pump and reduce their home’s greenhouse gas emissions. The District has expanded the eligibility for its heat pump financing program to homes currently using fossil fuel air heating, such as oil, natural gas, and propane.
The Heat Pump Financing Program provides up to a $12,000 zero-interest loan that is paid back over 10 years on the homeowner’s property billing. Heat pumps efficiently and effectively heat because they only use a small amount of electricity to move a large amount of heat, providing instant energy savings.
The program is an action of the District’s Climate Leadership Plan and goal to reduce emissions from residential buildings to meet the community’s targets of net-zero and renewable energy by 2050. Additionally, this program provides the largest potential energy savings and greenhouse gas emission reduction out of all possible home energy conversion projects in the community.
“This program is a great way to finance a significant increase to energy efficiency for homes using a fossil fuel heat source,” said Central Saanich Mayor Ryan Windsor. “It has the added benefit of giving these homes cooling power in the face of longer, hotter summers.”
The municipality has a limited number of spaces, the first intake deadline is March 3, 2023. If you are a homeowner in the District currently using a fossil fuel air space heating system and would like to take part in the financing program, please let us know by contacting us at climate@csaanich.ca or 250.652.4444 ext.2224. For information on the Heat Pump Financing Program, visit CSaanich.ca/HeatPumpFinancing.
The program is funded by the Green Municipal Fund, a fund administered by the Federation of Canadian Municipalities and funded by the Government of Canada.