In April, 2017, the Provincial Government announced the Energy Efficiency Loan Program (EELP) to provide low-interest loans for home energy efficiency upgrades.
Through EELP, qualifying home owners whose homes are reliant on electric heat can receive financing of up to $10,000 over five years for heat pumps and insulation.
• Eligible applicants can receive low-interest financing of Prime plus 1.5% for up to $10,000 over five years to purchase and install heat pumps and insulation. As with any financing program, a credit check is required.
• EELP is open to existing homes, with primarily electric heat and one year history.
• takeCHARGE will begin accepting applications in October 2017. Visit TakeChargeNL.ca for full program details.