Applications open for Saskatoon energy efficiency home loan program

Applications for Saskatoon's Home Energy Loan Program (HELP) opened Wednesday.

The goal of the program is to help homeowners install renewable energy options and improve efficiency. The city is offering low interest loans from $1,000 to $60,000 to cover upfront costs of retrofits.

"Some examples of retrofits an owner might consider with this financing include replacing a low efficiency furnace with a higher efficiency model," said the city's director of sustainability Jeanna South at a news conference.

According to South, HELP is not intended for smaller changes, like switching to LED lights or buying energy efficient appliances.

HELP loans are repaid through property taxes over five-, 10-, or 20-year terms, and remain attached to the property. If someone moves before the loan is repaid, the new homeowner will take on loan repayment.

The city looked at similar programs in other cities, including Halifax's Solar City program. South said Halifax's program has been such a success that the city is looking at expanding it.

South also said that just a few hours after applications opened, the city had already received several.

"We've been receiving a number of calls from both homeowners and from folks in the construction industry who are pretty excited about the program as well," she said.

The program is anticipated to run for two years, according to South. The city has $2.5-million in funding that is expected to cover loans for approximately 100 applicants.

Should the program be a success, the city may look into crafting another one, said South,.