Home Energy Retrofit Financing Program

Interested homeowners can join one of two free online information sessions on February 27 (12 pm and 5 pm) or join us in person on March 6 at 7 pm in the Bowen Park Clubhouse. Please email us at sustainability@nanaimo.ca to book your spot for the City of Nanaimo’s zero-interest Home Energy Retrofit Financing program. 

Zero-Interest Loan Pilot Program launching on April 1, 2025. Email us at sustainability@nanaimo.ca to learn more and join the program waitlist.

Are you looking to install a heat pump? Do you want to add solar panels or improve the insulation in your home and don’t know how to finance it? You may be eligible for a zero-interest loan, that you can pay off with your property taxes. Starting on April 1, 2025, the City of Nanaimo will be accepting loan applications of up to $15,000. Loans are interest-free financing and repaid over 10 years through your property taxes.

Eligible Improvements:

• Switching from fossil fuel space heating to an electric heat pump.
•  Installing solar panels where the homeowner already has electric heating.
• Installing a backup battery where solar panels are already in place.
• Building envelope upgrades to reduce air leakage and improve energy efficiency, such as door and window replacements or adding insulation.
• Non-energy related measures that might impede energy retrofits or enhance health and wellbeing, such as better filters in heat pumps. These measures must be combined with one of the above retrofits. No more than 30% of the individual loan amount can be used to support non-energy measures.
  

Eligibility Requirements

• The property must be within the municipal boundaries of the City of Nanaimo.
• The funding must be used for one or more of the above eligible improvements.
• The property tax status must be in good standing.
• The applicant must apply to the program and sign a financing agreement before starting any work.
• Complete a pre-upgrade EnerGuide evaluation. 
• Work must be completed by an approved contractor.
• The applicant must join the free Home Energy Navigator program.

• Total household income must exceed the  CleanBC Better Homes Level 1 income threshold unless the household is accepted and registered in the CleanBC Better Homes Energy Savings Program (ESP);
• Households that qualify for loans through ESP will only be eligible for a City loan to cover any additional costs necessary for the eligible improvement beyond what is covered by ESP
• Households whose household income is above the 90^th percentile income threshold for the City of Nanaimo will not be eligible.
• Households with a maximum assessed property value above $1.23 million will not be eligible.  To see if your household income is above the 90^th percentile please check the chart below.
  

Scoring Criteria

The zero-interest home energy improvement financing program is a pilot program.  Funding is limited. Eligible applications will be evaluated based on the following criteria:

• Climate Impact: preference will be given to improvements that eliminate fossil fuel use and reduce greenhouse gas emissions.  If the proposed retrofit is not completed, is there a risk of increased emissions due to switching to a higher carbon energy system?
• Income/Equality: Applicants who qualify for income-qualified programs such as the BC Energy Savings Program, will be encouraged to apply for those grants before applying for a loan.  Seniors, especially those living alone, will also be prioritized.
• Energy Savings: home energy improvements that result in energy savings will be prioritized. 
• Climate Resilience: The scoring criteria will also consider how the improvement prepares the homeowner and residents for climate impacts.  Improvements that provide cooling (such as heat pumps) or help residents prepare for extreme storm events (solar and battery) will be encouraged.
  

More details to come in spring 2025.  To receive updates regarding the program, please email us at sustainability@nanaimo.ca