City of Peterborough Launches Home Retrofit Loan Program

The City of Peterborough has launched a new financing program for its residents, aimed at helping homeowners lower their energy bills, improve home comfort and reduce greenhouse gas emissions.

Photo by David Tuan Bui.

Better Homes Peterborough is a four-year retrofit program offering low-interest financing, targeted incentives and personalized support to help homeowners navigate complex retrofits according to the City.

“Residential buildings contribute almost 40 per cent of local greenhouse gas emissions. Retrofitting your home is not just an investment in your house, but an investment in the collective future of our residents and our city,” said Mayor Jeff Leal. “By taking individual steps to reduce our emissions we can help the city hit its target of net-zero by 2050. Better Homes Peterborough is a key part of that effort.”

“Programs like Better Homes Peterborough demonstrate how municipalities, financial institutions, and delivery partners can work together to remove barriers to deep energy retrofits,” said Melanie Johnston, EnviroCentre director of energy programs.

Upgrades can include insulation, windows, doors, heat pumps, air sealing, solar panels and battery storage, high-efficiency water heaters, lighting, EV chargers, and electrical upgrades. Homeowners can use up to 30 per cent of their retrofit loan for cosmetic or non-energy-related upgrades.

“We know from experience that navigating energy rebate programs is challenging and the coaching that this new program will provide is critical to helping homeowners make their homes more comfortable and efficient,” Tegan Moss, GreenUP executive director, “We look forward to working with partners and participants to ensure that Better Homes Peterborough helps reduce emissions in our region.”

The City says improving a home’s energy efficiency can also help boost resiliency to extreme weather events.

The program is available to city residents who own detached or semi-detached houses, townhouses or small multi-unit buildings up to three storeys high.

Two financing options are available for residents - a Local Improvement Charge (LIC) Loan through the City of Peterborough or a personal loan through Kawartha Credit Union.

“We are proud to partner with the City of Peterborough on Better Homes Peterborough, which reflects our dedication to sustainability and to helping community members achieve their home improvement goals,” Norah McCarthy, Kawartha Credit Union  President and CEO.” We’re actively reducing our carbon footprint by choosing 100 per cent renewable energy, and we believe in empowering homeowners in our communities to embrace a greener future for all.”

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