An interest-free financing program for retrofits by City Green Solutions and the City of Nanaimo

City Green Solutions, in partnership with the City of Nanaimo, has designed and developed an interest-free loan program to help residents with the upfront costs of home energy retrofits. Starting on April 1, 2025, the City of Nanaimo will be accepting applications for loans 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.

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: priority will be given to applicants who require more income support.  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.