The City of Charlottetown has received funding from the Federation of Canadian Municipalities to offer homeowners PACE (Property Assessed Clean Energy) loans for home energy upgrades. This funding is currently offered through the Switch Charlottetown program at 0% interest. The increasing uptake of this program makes it difficult to predict when government funds will be fully allocated to upgrade projects. As of today (May 31st), our best estimate is that funding at this interest rate will remain available for 8-10 months. Watch this space for bi-weekly updates.
Welcome to the Switch Charlottetown Program!
MESSAGE FROM THE MAYOR, PHILIP BROWN
We have designed a program that will help you save on energy and help us meet our goals for a sustainable community future. Whether you are looking to get off oil with a heat pump, install solar panels or make other energy efficient renovations—our new Switch Charlottetown Program can help you every step of the way.
Connect with a Program Advisor to learn more!
Update On Home Energy Assessments
The City of Charlottetown has received funding from the Federation of Canadian Municipalities to offer homeowners PACE (Property Assessed Clean Energy) loans for home energy upgrades. This funding is currently offered through the Switch Charlottetown program a 0% interest. The increasing uptake of this program makes it difficult to predict when government funds will be fully allocated to upgrade projects. As of today (May 31st), our best estimate is that funding at this interest rate will remain available for 8-10 months.
We make it simple…
- Easy access to technical advice
- No money down
- 0% Financing (currently)
- Savings that will exceed payments
- Help to access and benefit from all eligible provincial and federal rebates
- Improve the value and comfort of your home
- A one-time administration fee of 5% of the total upgrade cost is added to the overall project costs to cover:
- the assignment of an energy concierge to each project to oversee the entire process
- checking the property tax status with the Municipality
- arranging for a free home energy assessment (pre and post project)
- helping homeowners navigate through the rebate process, both federally and provincially
- helping support industry engagement particularly in your geographic region
- providing homeowners with approved contractors to choose from
- drafting and executing legal agreements (including the participation agreement and certificates of completion)
- securely storing all documents and records related to the project
- ensuring contractors are paid promptly
- setting up and collecting monthly payments (PAP) from homeowners for the 10-15 year period of the life of the loan
- Contact us for advice
- We can help you get quotes from local contractors and a Home Energy Assessment
- When you are ready, sign our Participation Agreement (please email us to request a sample PA)
- We authorize contractor to proceed
- We pay contractor once you’re happy with the work
- Start your payments and start saving
The Switch Charlottetown Program will support almost any project that saves energy and reduces greenhouse gas emissions.
Here are some examples below:
AIR-SOURCE HEAT PUMPS
GEOTHERMAL HEAT PUMPS
HEAT PUMP POOL HEATERS
HEAT PUMP DOMESTIC WATER HEATERS
INSULATION AND AIR SEALING
Have your project pay for itself through energy savings!
On average, installing a heat pump will save you $110 /month in energy and it will cost $82/month in financing.
On average, installing a solar system will save you $130 /month in energy and it will cost $110/month in financing.
Key Financing Terms
- Financing through your property, not personal credit
- 0% interest rate!
- 15 year terms
- Early, partial or full repayments accepted with no fees
- Finance up to $40,000 or 15% of your property value (whichever is less)
- Low monthly payments with typical savings that will exceed payments
- Switch Charlottetown is operated on a user-pay model for the Municipality. This means programs are not being subsidized by non-participating taxpayers
Combine with other Incentives
- You could be eligible for $10,000 or more in incentives from Efficiency PEI
- Up to $5,000 in incentives through the new Federal Greener Homes Program!
- We’ll ensure you take advantage of all existing incentives available!
The Fine Print
Call us if you would like to see a sample Participation Agreement 902-629-0355
Funding for this Switch program made possible by the Federation of Canadian Municipalities (FCM) and Efficiency PEI.
Are you a local contractor/supplier and want to know more about the program and grow your business?
Express interest and get invited to our next industry engagement session or give us a call.
Talk to our team at 902-334-6031 or send an email to: email@example.com