Better Homes Peterborough officially relaunched its low-interest home energy loan program on Thursday, February 19, unveiling many program enhancements designed to make participation easier.
Launched in April 2025 by the City of Peterborough in partnership with EnviroCentre, GreenUP and Kawartha Credit Union, Better Homes Peterborough provides low-interest financing and personalized energy coaching to support upgrades such as insulation, air sealing, heat pumps, windows, solar panels and more.
“Better Homes Peterborough helps residents lower their energy bills and reduce greenhouse gas emissions by supporting the installation of heat pumps and EV chargers, improving insulation, and much more,” said Mayor Jeff Leal.
“The option to install an EV charger is especially timely, given the Government of Canada’s recent announcement of rebates for electric vehicles. I encourage homeowners to take a look at the updated rebates and incentives Better Homes Peterborough has to offer!”
Whether residents are looking to reduce their energy bills, improve year-round comfort, or take meaningful climate action at home, Better Homes Peterborough brings together financing, incentives, energy coaching and expert guidance — all in one place.
Better Homes Peterborough offers two loan options to meet different homeowner needs:
- A Local Improvement Charge (LIC) Loan through the City of Peterborough
- A personal loan through Kawartha Credit Union
The Local Improvement Charge (LIC) option levies the loan against a property through the municipal tax bill. The interest rate is fixed at 4.5% with a 15-year term for a minimum loan request of $10,000.
The financial institute option is in partnership with Kawartha Credit Union (KCU) and offers a variable rate (to those who qualify), with a shorter term of 5 years.
Eligibility to the program has been streamlined and clarified. Applicants will need to meet eligibility requirements at two points in the application process:
- Lending Eligibility:
- Be a property owner in the City of Peterborough
- Own a residential property (detached, semi-detached, townhouse, or multi-unit buildings 3 storeys or fewer)
- Be in good standing with the City on all taxes and payments
- Obtain agreement from all property owners
- Project Eligibility:
To qualify, property owners must complete air sealing improvements of at least 10% (if the home is rated 5 ACH50 or higher) and:- Install a qualifying cold climate heat pump, sized to heat the entire home, or
- Install a solar system, or
- Install a combination of eligible upgrades that will result in at least a 25% reduction in energy use or emissions
Coaching with the program Energy Coach continues to be offered free of charge and is available for all residents in the City of Peterborough, regardless of application status. Along with an EnerGuide Home Energy Assessment, your Energy Coach will guide you in your project planning to help you meet the project eligibility.
Incentives have been boosted for the first 26 participants who successfully complete a Better Homes Peterborough retrofit that significantly reduces energy use or greenhouse gas emissions. Participants could qualify for one of these performance-based incentives:
$1,500
for projects that achieve a 30-59% reduction in energy use or emissions
$3,600
for projects that achieve over a 60% reduction in energy use or emissions
Last, but not least, Better Homes Peterborough will now offer:
$600
rebate toward an EnerGuide Home Energy Assessment
$250
rebate toward air sealing
Free
electrical panel load assessment through GreenUP
Homeowners in the City of Peterborough are encouraged to reach out with questions by calling 1-888-284-9417 or emailing betterhomesptbo@envirocentre.ca.