Finance PEI

Provides repayable loans up to $10,000 towards 100% of invoiced costs to help homeowners with upfront costs for equipment, materials, and installation for applicants approved under the following efficiencyPEI programs:

• Energy Efficient Equipment Rebate
• Home Insulation Rebate
• Energy Efficiency Loan Program for Solar Photovoltaic Equipment

Approved applicants can apply for one loan under this program. However, after the loan is paid off, they can apply for another loan.

Provides an opportunity to PEI residents to own an eligible home that is up to maximum value of $350,000 (including HST, if any). Finance PEI will purchase a home on behalf of an approved participant who will in turn enter a five year Rent-to-Own agreement with Finance PEI on the same day the home is purchased. Participants will pay the rent to Finance PEI, and a portion of the payments shall accrue in favor of the participant to use the amount to exercise their purchase options below:

• Reduce the purchase price payable to Finance PEI ("Purchase Price Credit")
• Be used towards the cash down payment required to obtain the mortgage financing required to complete the purchase from Finance PEI ("Downpayment Credit")

Provides PEI homeowners with a repayable loan of up to $30,000 toward 100% of eligible invoiced costs for the purchase and installation of select energy efficient heating equipment upgrades. Includes:

• Electrical service upgrades
• Air source heat pumps that are Northeast Energy Efficiency Partnerships Cold Climate Air-Source Heat Pump Specification (NEEP ccASHP) compliant
• ENERGY STAR certified heating equipment: geothermal heat pumps, water heating devices, biomass heating devices, and other energy saving products

All equipment must be purchased and installed by a Network of Excellence contractor.

Note: Loan applications must be made before any work begins. Financing is not available for projects that are already started or completed. Work cannot begin until application is approved.