EcoStar and the Home Energy Loan Program

If you’ve been considering renovations or retrofits to improve your home’s energy efficiency, the home energy loan program (HELP) offered by the City of Toronto can help offset the costs of major home improvements. Upgrading your home to be more energy efficient can have a huge effect on your indoor comfort and monthly energy bills, as well as having a positive effect on climate change through the reduction of greenhouse gases. HELP assists homeowners make these positive changes by offering low interest loans towards replacing or retrofitting parts of your home.  You may qualify for this program if you own a detached, semi-detached, or row house and your property taxes and utility payments are paid in good standing, and that your mortgage lender consents.

What Retrofits Qualify for the Home Energy Loan Program?

Many homes in the GTA qualify for the home energy loan program because of their age - with older insulation, roofs, windows, and other features, these homes can often be leaky, drafty, and inefficient. They can be causing a great deal of stress on a homeowner through an increased need for repairs caused by outdated and deteriorating elements as well as high heating and cooling bills. There are a number of different improvements that qualify under the home energy loan program, such as:

• Installing high efficiency furnaces, boilers, or air conditioners
• Installing a high efficiency water heater
• New windows and doors with improved weather stripping or caulking
• Replacing toilets with dual flush or low-water models
• Replacing basement, attic, or exterior insulation
• Installing heat recovery or energy recovery ventilators

New Insulation is One of the Best Choices for your Home

Adding new insulation and improving air sealing are two of the top recommendations for homeowners applying to the home energy loan program. As mentioned, many homes in Toronto are older, and this often means that your existing insulation may be old, inefficient, or damaged from the passage of time. Many homes were built in a different era, when building codes allowed little to no insulation in basements or certain spaces, or hazardous materials like asbestos to be used. Replacing this old insulation can immediately improve your indoor comfort as well as having a cumulative effect as it reduces the load on a furnace that may be struggling to replace conditioned air lost through old and inefficient materials. This translates directly into savings on your monthly energy bill as well as a reduced need for repair and maintenance costs on your furnace.

The Benefits of the HELP Program

Energy efficiency and lower costs for homeowners is the most obvious benefit of participating in the home energy loan program. However, the related benefits of this program help make it an easy choice for homeowners:

• You can pay off your loan at any time without penalty
• You benefit from low interest rates and long repayment terms
• HELP allows you to bypass the often large upfront costs of retrofitting your home, and could make you eligible to receive up to 5% of the current value assessment for your home
• This financing is attached to your property, not the homeowner - so if you move before you finish repaying your loan, the new owner assumes the balance
• Incentives are available through various agencies to encourage you to replace or retrofit major appliances

Insulate your Home with the Home Energy Loan Program

Participating in HELP can be a great way to improve your indoor comfort and bring lasting value to your home, one of the greatest investments a family can make. If you’re interested in participating in the home energy loan program and improving your home’s insulation, give us a call at 1-866-789-1536 and an EcoStar Insulation expert will be happy to tell you more about our products and services.