Saskatoon explores energy-efficiency home loans program

The City of Saskatoon is looking at a new way for homeowners to make energy-efficient modifications to their homes. 

The proposed home energy loan program, which will go before the full city council on Feb. 22, would let owners of single-family homes take out low-interest loans, to be paid back through their property taxes. 

These loans could be used to pay for a wide variety of energy-efficient or renewable energy-focused home improvement projects. 

"If you're looking at potential projects, you might be thinking that a high-efficiency furnace or a boiler would be something that would benefit you," said Jeanna South, the city's director of sustainability, adding window and exterior door replacements would also qualify.

"You might be interested in solar [panels] for electricity or for hot water heating on your roof, or you might also be looking at water conservation initiatives."

South said the loans could even apply to residents who purchase an electric vehicle, who might then incorporate vehicle charging stations and battery storage into their homes. 

Because the financing for the loan would be tied to the property rather than to an individual, it would have no effect on credit ratings or mortgage limits. 

According to South, this program would allow for major improvements to Saskatoon's aging homes, many of which were built before 1980, and could help families who are struggling to cover energy costs. 

"Many of our households in Saskatoon suffer from energy poverty — that's when more than six per cent of their after-tax income is spent on energy bills," she said. "So obviously, bringing down those energy bills, especially for some households, is really important."

The city has estimated the program will cost $380,000 to administer over two years, as well as $2.5 million for the loans, but says it could be self-sustaining in the long run. 

Short also expects the program to support Saskatoon's economic and environmental goals by supporting local jobs in the construction and renewable sectors, as well as reduced greenhouse gas emissions in the city.  

Chris Guérette, CEO of the Saskatoon and Region Home Builders' Association, is also enthusiastic about the program's potential. 

"At the end of the day, you're going to have a higher-performing home, and I think that's something that people should be thinking about all the time," she said.

"Let's not forget as well, this is also helping impact the environmental goals that many municipalities have. This is a way to help homeowners also have an action towards that."