CBC News reports on loans to help homeowners make green upgrades to their homes.
Photo: Shane Hennessey/CBC
Mike Campbell didn't pay a penny upfront when his new air-source heat pumps were installed this spring to replace his old oil boiler. The Charlottetown homeowner got a zero-interest loan that he'll pay back over 10 years.
In the meantime, he's saying goodbye to heating-oil bills that sometimes topped $1,000 a month — savings that can cover his loan payments.
Campbell got the loan through a government-funded program called Switch Charlottetown, run by a group called Property Assessed Clean Energy (PACE) Atlantic, a community interest corporation, on behalf of the local municipality.