The District of Saanich is offering up to $12,000 of interest-free financing to help homeowners upgrade oil furnaces or boilers to an electric heat pump.
The option enables residents to repay the financed amount over 10 years through an additional amount on the home’s property tax payments.
Saanich is launching the program as a way to help to reduce greenhouse gas emissions and eliminate carbon-intensive oil heating in the district by 2030.
Heat pumps are becoming a popular way to provide efficient heating and cooling with renewable energy, while also reducing heating bills. The Saanich program is being launched in conjunction with the District of Central Saanich’s Oil to Heat Pump Financing Program.
Mayor Fred Haynes said in a release the municipality is thrilled to be able to offer the program, and through collaborating with the federal government, the province, the Federation of Canadian municipalities, the Real Estate Foundation of BC and BC Hydro, “we are one step closer to meeting our climate action goals.”
The financing option is a pilot program with a limited number of spaces available. Interested residents are encouraged to apply early, as the first intake deadline is June 6. Those missing this deadline will have an opportunity to apply for the next intake period.
More information and the steps to participate are available at saanich.ca/heatpumpfinancing.
Do you have a story tip? Email: email@example.com.