City council reviewing $10M funding offer from FCM for Saskatoon’s home energy loan program

FMC funding would enable the Home Energy Loan Program offer more loans while providing rebates and an education program.

A new program in Saskatoon to assist homeowners with energy efficiency upgrades is looking to expand.

Although there have been many successes, Amber Weckworth told a city committee on Monday that challenges have arisen since the Home Energy Loan Program (HELP) was launched last year.

“For example, there are only two companies that offer EnerGuide audits, causing long wait times. Many companies require deposits, and these can range anywhere from 30 to 50 percent,” said Weckworth, the city’s manager of climate strategy and data.

There has been lower uptake for the program from income-qualified participants, she said.

Weckworth is looking for city council to increase the income threshold for homeowners and approve $10 million in funding from the Federation of Canadian Municipalities.

HELP launched on Sept. 1, 2021, with $2.5 million available to loan to homeowners — enough for 100 participants with an average loan of $25,000.

Under the program, expenses for retrofitting homes to make them more energy efficient are paid through property taxes, allowing homeowners without capital to make the changes while reducing their energy bills.

To date, the city has received 335 applications — 69 have been approved for funding.