Space heating is the largest use of energy in homes. A properly installed heat pump is two to three times more efficient than other alternatives and can provide you with both comfortable heating in the winter and cooling for today’s hot summers.
The CleanBC Better Homes Low-Interest Financing Program provides loans with interest rates as low as 0% for switching from a fossil fuel (oil, propane or natural gas) heating system to a heat pump.
CleanBC Better Homes and point-of-sale lender Financeit are working together to bring British Columbians this low-interest financing offer as an alternative to CleanBC Better Homes rebates for eligible heat pumps. Loans are provided by Financeit and accessed via CleanBC Finance Registered Contractors.
- Interest rates: 0% or 4.99%, depending on heat pump efficiency
- Loan size: $1,000 – $40,000
- Amortization period: 60 months (5 years)
- Your upgrades must be installed by a finance registered contractor.
- You must have a residential utility account with FortisBC, BC Hydro or a municipal utility.
- Your home must be primarily heated with:
- Natural Gas or piped-propane supplied by FortisBC
- Natural Gas supplied by Pacific Northern Gas
- Propane not supplied by FortisBC
- Premises primarily heated by wood or other solid fuels are not eligible.
- You must live in an eligible home.
- The home must have a minimum of 12 months of consecutive utility billing history.