Financing

The CleanBC Better Homes Low-Interest Financing Program through lender Financeit provides loans with interest rates as low as 0% for switching from a fossil fuel (oil, propane or natural gas) heating system to a heat pump.

Applicants may apply for the Low-Interest Financing Program or a CleanBC Home Efficiency Rebate for eligible heat pump installations but not both. If you receive financing for your heat pump installation you are no longer eligible for a rebate for the heat pump or for other rebate-eligible primary heating systems.

Promotional Offer

For a limited time, automatically receive a $3,000 rebate on your loan for an eligible heat pump installed before March 31, 2021. Registration for a Promo code is not required.

Financing Available

- - - Interest rates: 0% or 4.99%, depending on heat pump efficiency
    - Loan size: $1,000 – $40,000
    - Amortization period: 60 months (5 years)
    - Loans must be at least $1,000.
    - Loans must not exceed $15,000 for heat pumps with fossil fuel back up; $40,000 for all other eligible heat pumps. Loans can be amortized for up to 60 months (5 years). Loans cannot exceed the cost on the invoice and the paid cost of the upgrade

Eligibility Requirements

- - - 1. Upgrades must be installed by Airlux or another Finance Registered Contractor
    - 2. You must have a residential utility account with one of the following:
      - FortisBC natural gas
        
        FortisBC Inc.
        
        BC Hydro
        
        City of New Westminster
        
        City of Penticton
        
        City of Grand Forks
        
        Nelson Hydro
        
        District of Summerland
        
        Pacific Northern Gas

- - - 3. Your home must be primarily heated with:
      - Natural Gas or piped-propane supplied by FortisBC
        
        Natural Gas supplied by Pacific Northern Gas
        
        Propane not supplied by FortisBC
        
        Oil
    - 4. You must live in an eligible home

- - - 5. The home must have a minimum of 12 months of consecutive utility billing history. This requirement is regarding the utility billing history of the home itself. It does not have to be your personal utility billing history.

Upgrade Requirements

- - - 1. The installed system must be on the Qualifying Product List – All Airlux Products have been Prequalified

2. The heat pump must become the primary heating system of the home.

3. All fossil fuel heating equipment must be modified, removed or decommissioned

How to Apply

Note: You can ONLY apply through Airlux or another Finance Registered Contractor for the loan

1. Carefully read the Financing Eligibility Requirements and Terms and Conditions to confirm your eligibility.

2. Contact Airlux or another Finance Registered Contractor to get a quote for an eligible heat pump

3. Complete a loan pre-approval application with Airlux or another Finance Registered Contractor. Within minutes of submitting online, you will be approved or declined.

4. If approved, complete your loan agreement and proceed with the installation of your heat pump.

5. If declined, check out the equivalent heat pump rebate offer

6. Once your heat pump has been installed, complete the CleanBC Better Homes Low-Interest Financing Program Application, return to Airlux or another Finance Registered Contractor and sign the letter of completion provided by Airlux or another Finance Registered Contractor. We will submit all paperwork on your behalf.

7. For Tier 2 heat pumps installed before March 31, 2021, the $3,000 rebate will automatically be applied to the principal of your loan within 30 days of the date of your letter of completion. Registration for a promo code is not required.

8. Begin repayments on your loan

For Further Questions refer to Low-Interest Financing Program or Contact Us