City of Toronto Launches Enhanced Home Energy Loan Program
On July 7, the City of Toronto is launching an Enhanced Home Energy Loan Program (HELP) that will include an interest rate as low as 0%. Loans are attached to the property, not the owner, and repayments are made through municipal taxes.
Through the program, Toronto homeowners can get a low-interest loan of up to $125,000 to cover the cost of home energy upgrades, such as:
- High efficiency furnaces / boilers / air conditioners
- Aerothermal heat pumps
- Window/Door Replacements
- Basement/attic/exterior wall insulation
- Airtightness (e.g. weatherstripping or caulking)
- geothermal systems
- High efficiency water heater
- Tankless Water Heater
- Drain water heat recovery systems
- Toilet Replacements
- Solar hot water systems
- Photovoltaic solar panels on the roof
- Charging stations for electric vehicles (Level 2)
- Battery storage
With low fixed interest rates and amortization periods of up to 20 years on eligible measures, HELP makes it easier for homeowners to pay for home improvements over time and also access discounts offered by utility companies.
Once financing is approved, homeowners can hire the contractor of their choice and complete their renovations.
Homeowners and contractors are invited to attend a 20-minute webinar to learn more about the program where City staff will explain the HELP approval and reimbursement process, upgrades and renovations eligible for funding, and answer the questions:
Friday, July 8 12 p.m.
Tuesday, July 12, 12 p.m.
Thursday, July 14, 12 p.m.
For more information and links to the webinars, visit: toronto.ca