Toronto launches home energy loan program

Toronto, ON — Toronto has launched an enhanced version of its Home Energy Loan Program (HELP) that offers zero-interest loans and incentives to help Toronto homeowners make their homes more energy-efficient and reduce the emissions contributing to climate change. The HELP program first started in 2014.

The program received funding from the government of Canada through the Green Municipal Fund, administered by the Federation of Canadian Municipalities (FCM), which included a loan of up to $9.712 million to fund the zero-interest loans and a grant of up to $4.856 million.

“I encourage Toronto homeowners to take advantage of HELP financing and incentives, as well as the federal Greener Homes grant, to make their homes much more efficient and reduce the emissions that are changing our climate,” said John Tory, Toronto mayor.

For a limited time, the HELP program will offer homeowners zero-interest loans of up to $125,000 for up to 15 years, 20-year terms are available for retrofits, including rooftop solar PV, geothermal, new windows and electric heat pumps.

Home improvements eligible for financing include air-source heat pumps, window/door replacements, insulation, air sealing, geothermal systems, high-efficiency water heaters, high-efficiency furnaces/boilers/air conditioners, tankless water heaters, drain-water heat recovery systems, toilet replacements, solar hot water systems, rooftop solar PV panels, electric vehicle charging stations (Level 2), and battery storage.

Customers may qualify for the program if they own a detached, semi-detached, or row house in Toronto (the property’s postal code must start with an “M”), all of the property owners on title consent to participate in the program, have no late property tax and utility payments to the city in the past three years, and they obtain written consent from your mortgage lender if applicable.

Homeowners may also be eligible for the federal government’s Canada Greener Homes Grant of up to $5,000.