Saanich Reopens Interest-Free Heat Pump Financing Scheme
- brg_news_room
- 23 hours ago
- 1 min read
CANADA: The District of Saanich has opened the seventh intake of its Heat Pump Financing Programme, inviting residents to apply for interest-free loans to switch to electric heat pumps. Launched in 2022 with Central Saanich, the scheme offers up to $12,000 per household, repayable over ten years through a property tax levy. The programme aims to overcome high upfront costs while cutting greenhouse gas emissions and improving household resilience by adding cooling. Participants previously spent around $2,500 a year on oil heating, with most expected to save over $1,000 annually after switching. Homes moving from natural gas may see similar costs but gain summer cooling benefits. The initiative is supported by grants from the Federation of Canadian Municipalities and the Real Estate Foundation of BC.
Source: Saanich
