Across Canada, inefficient residential homes are a huge contributor to greenhouse gas emissions. In Wolfville, homeowners looking to reduce their carbon footprint can now leverage zero per cent financing through a new property assessed clean energy (PACE) program called Switch Wolfville.
The program, complete with concierge-inspired energy coaches, will support homeowners with energy assessments, and project planning to help reduce residential greenhouse gas emissions.
Energy-efficient improvements covered by the Switch program include custom solutions like solar panels, heat pumps, insulation, or new windows and doors.
“Wolfville homeowners want to respond to our climate emergency,” Wolfville Mayor Wendy Donovan explained. “The Switch program is an opportunity to create a sustainable future for everyone.”
Homeowners enrolled in Switch Wolfville have 15 years to re-pay their loans, at zero per cent interest, with no penalties for early re-payment. Plus, all the upgrades covered by the Switch program are expected to generate energy savings greater than the monthly payments.
Switch Wolfville operates in partnership with PACE Atlantic CIC, with assistance from the Federation of Canadian Municipalities’ Green Municipal Fund, an endowment created by the Government of Canada.Switch Wolfville, through PACE Atlantic CIC, provides an easy, customer-friendly approach to energy efficiency upgrades, solar panel installation and beneficial electrification making it easier for homeowners to make important upgrades that will move Wolfville towards becoming a low carbon community.
Switch Wolfville is one part of the Town’s response to the climate emergency. Homeowners are asked to visit https://pace-atlantic.org/switch-wolfville/ for additional details on our climate planning process and to connect with a Switch Wolfville program coordinator.
The Switch Wolfville program offers residents a simple path to energy efficiency and renewable projects, such as heat pumps, solar systems, insulation and more. The Switch Wolfville program features an in-house energy concierge who will guide homeowners through the entire upgrade process including home energy assessment, project selection, contractor identification, and loan repayment.
The Switch program will make complicated upgrades simple. Switch participants are offered zero percent financing with no upfront costs. Homeowners can access repayment terms of up to 15 years resulting in household energy savings designed to exceed monthly loan repayments.
With Switch’s flexible financing options, Wolfville residents can accelerate payments or repay their loan in full without penalty. Long term financing to match long term energy savings. Wolfville homeowners may finance projects valued up to $40,000 or 15 per cent of the assessed value of their home. Project loans are secured against property values, not personal credit.
Approval to participate is subject to a review of homeowner property taxes and Municipal utility accounts.
The Switch Wolfville program supports participants in accessing generous rebates and incentives available through Provincial and Federal programs. Homeowners who finance projects through Switch are not excluded from any rebate programs due to Municipal financing.
Switch Wolfville is a part of a collective of maritime municipalities launching residential energy efficiency and renewables programs that includes Charlottetown and Stratford, PEI. Switch Wolfville is carried out with assistance from the Federation of Canadian Municipalities’ Green Municipal Fund, an endowment created by the Government of Canada.