HELP is on the way for homeowners looking for energy efficient upgrades and retrofits
The City of Saskatoon (City) has officially launched the Home Energy Loan Program (HELP).
HELP provides low interest loans to single-family homeowners for energy efficiency upgrades and renewable energy installations that are repayable through their property taxes.
“What makes the program unique is that the loans are tied to the property and not the person. To be eligible, property owners would need to have their property taxes in good standing, and no additional credit checks are needed,” says Jeanna South, Director of Sustainability for the City of Saskatoon.
As the program name entails, the loans are for home energy efficiency upgrades, retrofits, and renewable energy installations. Some of the program options include:
- Replacing windows, doors, or heating and cooling equipment with EnergyStar models
- Adding insulation to basements, attics, and walls
- Replacing toilets and faucets to low-flow options
- Installing solar panels
HELP loans are available to eligible applicants for terms of 5 – 20 years with interest rates estimated at 1.45%– 3.14%.
Applicants are encouraged to apply online at saskatoon.ca/HELPHome where there are guiding forms and resources to help them through the application process.
A first step for successful applicants is to have their home undergo an energy audit, where a licensed professional reviews a home’s current energy efficiency and provides recommendations on how to increase it. While the audit comes with a cost, it can be included in the loan amount. There is also a program administration fee, however, this can be waived if an applicant’s income is below a set amount.
For owners looking for help with their construction or installation project, saskatoon.ca/HELPHome has a list of contracting and trades businesses who have provided documentation such as of workers’ compensation compliance, general liability insurance, safety training, and registration with a third-party warranty organization.
“The program removes some of the barriers residents might face when applying for a loan. And, because loans are specifically for energy efficiency and renewable energy installations projects, the whole community benefits from the reduced greenhouse gas emissions,” says South.
“Reducing barriers for energy upgrades, lowering emissions, supporting local employment and businesses, and equitable program development benefit the community and support broader goals set out by City Council.”
Visit saskatoon.ca/HELPHome for more information on the City’s Home Energy Loan Program (HELP).