Want a low-flush toilet or a new geothermal heating system in your home? The province could pick up the tab for you.
Premier Greg Selinger and Manitoba Hydro officials announced a new “Power Smart Pay As You Save” program Monday.
Under the program, homeowners wouldn’t have to pay the upfront costs of making energy-saving improvements to their homes.
Instead, Manitoba Hydro will pay the initial costs and then recover the funds over time from the energy savings on the clients’ bills.
Officials said the bills stay with the property, allowing Hydro customers to transfer their financing to the next homeowner.
The program is the first of its kind in Canada, and it covers things like high-efficiency gas and geothermal heating systems, insulation, drain water recovery systems and water-saving toilets.
Officials said the interest rate on the Pay As You Save loans is set at 3.9 per cent and is fixed for five years.
Manitoba Hydro has also made an online calculator available to homeowners to see how much can be borrowed from Manitoba Hydro under the program.
