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Penticton launches Energy Retrofit Loan Program
The City of Penticton electric utility has launched its Energy Retrofit Loan Program, an affordable way to help families renovate their home and improve energy efficiency.
“Improving home energy efficiency helps us all reduce the costs of utility bills, and the Energy Retrofit Loan Program is a great way for people to realize those savings,” said deputy mayor Wes Hopkin. “The City of Penticton is pleased to offer this innovative program that will not only make our community more sustainable, but help make residents’ lives more affordable.”
Energy retrofits are upgrades to a home that can save money on utility bills. Upgrades include insulation, reducing air leakage and installing more efficient space and water heating systems. The Energy Retrofit Loan Program is a loan service available through the City of Penticton for eligible energy efficiency upgrades made by City of Penticton residents that own and occupy their own homes.
Those who qualify for the program undergo a home energy assessment, which identifies improvements that would yield hundreds of dollars of savings each year. It is an important tool to understand what work your home needs to become energy efficient, and will be arranged by program staff at your convenience.
Once the assessment is completed, the homeowner decides what projects to undertake and which contractor they want to hire, if any. Once the required documentation is complete, the loan will be finalized and a homeowner will be issued a cheque. Monthly loan payments will be added to the homeowner’s monthly utility bill, and additional payments can be made at any time without penalty.
The Energy Retrofit Loan Program participants qualify for incentives, including the LiveSmart BC Efficiency Incentive Program that provides rebates for insulation, air sealing and more. Participants will also receive a subsidy that will reduce the cost of the energy assessment to $60 ($300 value), and Penticton Electric Utility customers are eligible for an additional $25 reduction – for a total assessment cost of $35.
Interested participants must apply before Dec. 14, 2013, and work must be completed by March 31, 2014. For more information, contact the Penticton Electric Utility at 250-490-2535 or visit www.penticton.ca/energy.