Premier Ball Announces Energy Efficiency Loan Program #nlpoli

Premier Dwight Ball announced that applications can be submitted for the Energy Efficiency Loan Program today.

The program is fully funded by the Provincial Government and will be delivered in partnership with takeCHARGE, an energy efficiency initiative of Newfoundland Power and Newfoundland and Labrador Hydro.

The Energy Efficiency Loan Program provides eligible participants who use electric heat in their homes with a low-interest loan of prime plus 1.5 per cent (currently 4.7 per cent) for up to $10,000. Financing can be used for energy efficiency home upgrades, specifically the purchase and installation of heat pumps, basement and attic insulation, and to conduct home energy assessments for homes reliant on electricity for heating.

The Provincial Government is providing a total of $4 million for the Energy Efficiency Loan Program, with $1 million to begin the program this year, and a further $1.5 million in each of 2018-19 and 2019-20.