British Columbians wanting to switch from fossil fuel-based heating to cleaner, more energy-efficient heat pumps now have access to low-interest financing.
The province is working with CleanBC to create an innovative financing program that will offer interest rates as low as 0 percent over a five-year repayment period depending on the type and efficiency of heat pump chosen by homeowners.
“Through CleanBC, we’re supporting clean technologies like heat pumps that will reduce climate pollution and help families save on energy costs,” said Bruce Ralston, Minister of Energy, Mines and Petroleum Resources.
“This innovative financing program will help British Columbians make the switch to clean energy and ensure their homes are as efficient, comfortable and affordable as possible.”
The province says its CleanBC program aims to reduce the environmental impact by using more clean energy, more efficiently, which can help lower greenhouse gas emissions and improve air quality.
So far, $4.1 million has been allocated to support the Low-Interest Financing Program through 2021-22.
To learn more about the new low-interest financing program, click here.