Electrical Services Financing Plan

• Electrical Services Financing
• Newfoundland Power Loan Application
• Loan Payment Calculator
• Electric Water Heater Payment Table
  

Up to $10,000 of financing is available through Newfoundland Power for the purchase and installation of:

Electric water heaters- Finance the purchase and installation cost to replace an electric water heater or to install a new one in your home.

R2000 upgrades- Finance the cost difference between a conventionally constructed home built to the National Building Code Standard and the same house built as a registered R-2000 home.

ecoENERGY Retrofit Financing- Finance the cost of the residential energy assessment and recommended home improvements to save energy and improve the comfort of your home.

Electric home heating systems- Including baseboard heaters, wall mounted heaters, panel convector heaters, electric forced air furnaces, electric hot water radiation systems and heat pumps.

Heat recovery ventilation systems- Finance an energy efficient ventilation system to control moisture and improve indoor air quality in your home.

Electric fireplaces and mantle

Wiring and associated material- Including the addition of general use outlets, heavy appliance outlets and ground fault interrupters, high performance thermostats, and wiring for heating, appliances and lighting.

Electric service upgrades for new and existing homes- Including amperage upgrades, voltage upgrades and relocation of panel and meter.

Who qualifies for financing?

Electrical Services Loans are available to residential customers of Newfoundland Power who have an active account and own the premises for which the loan is required. Customers who are renting or have a rental purchase agreement are not eligible for financing. Financing is subject to credit approval. Click here to apply online.
 

Payments are made through your monthly electric bill. Repayment schedules up to 60 months can be arranged. Loans may be repaid at any time without penalty; however, the loans are not life insured.
 

Your payment will be based on the amount of your purchase and the interest rate at the time of purchase.

Click here for the current interest rate and then use our Loan Payment Calculator or Water Heater Payment Table to determine your monthly payment amount.
 

Other details

Electric Water Heaters

Electric Water Heaters can be financed over a 12 to 36 month period. Financing limits for the combined purchase and installation costs are:

• $600 for 30 and 40 gallon electric water heaters;
• $675 for 60 gallon electric water heaters, and
• $1425 for long life electric water heaters with a minimum 15 year manufacturer’s warranty.

How the program works

Contact your local plumber, plumbing/building supply dealer directly to request financing under the Newfoundland Power Water Heater Financing Program. Have your Newfoundland Power account number available, as the supplier will require it when they call to request credit approval for the financing. You can also apply for financing by completing the Newfoundland Power Loan Application or by calling a Customer Account Representative at 737-2802 or 1-800-663-2802.

Once financing is approved, you will be asked to sign a loan agreement which will be forwarded to Newfoundland Power when the purchase or installation is completed.

Newfoundland Power pays the invoice directly to the contractor or supplier and the monthly finance amount is then added to your electric service bill.

ecoENERGY Retrofit Program

Under Natural Resources Canada’s (NRCan) new ecoEnergy Retrofit Program property owners can qualify for grants up to $5000 by improving the energy efficiency of their home or multi-unit residential building, and reducing their home’s impact on the environment.

To be eligible for grants, a pre- and post-retrofit residential energy assessment by an NRCan licensed advisor, is required. For more information or to request a pre-retrofit assessment, customers can contact one of the delivery agents listed below.

Sustainable Housing

1 877 722-2842
http://www.sustainablehousing.ca/

AmeriSpec

709 687-4673    709 781-1616
http://www.en.amerispec.ca/welcome-to-ask-the-inspector/what-is-the-ecoenergy-retrofit-program

For more information on the ecoENERGY Retrofit Program and other Government of Canada programs, please visit the Natural Resources Canada website at http://www.oee.nrcan.gc.ca/residential/personal/home-improvement.cfm

You may also request a copy of Eligibility Criteria for Grants by calling 1-800-387-2000 toll free, or address general inquiries about the Office of Energy Efficiency’s ecoENERGY Retrofit Program and other services by writing to:

ecoENERGY Retrofit Program
Office of Energy Efficiency
Natural Resources of Canada
580 Booth St. , 18th Floor
Ottawa ON K1A 0E4

Requirements for Heat Recovery Ventilation Systems

1. Heat Recovery Ventilation Systems must be installed by an installer registered with HRAI (Heating, Refrigeration and Air Conditioning Institute of Canada) 2. A signed loan agreement must be accompanied by an official invoice or receipt from a certified HRAI installer. 3. Only Heat Recovery Ventilation Systems that are certified by HVI (Heating, Ventilation Institute) are eligible for financing.

Requirements For Heat Pumps

1. The heat pump contractor or installer must be certified to perform the work. Certification may be through the heat pump manufacturer, refrigeration company or through a training center such as HRAI. First time installers for our financing program must show proof of certification.

2. A signed loan agreement must be accompanied by an official invoice or receipt.

Requirements For Electric Fireplaces

1. All equipment must be permanently installed and be CSA approved.

2. A signed loan agreement must be accompanied by an official invoice or receipt.

Eligible Thermostats

Requirements for Electric Heating Systems and Electrical Upgrades

1. Electrical work must be completed by a certified electrician.

2. A signed loan agreement must be accompanied by:

• An official invoice or receipt.
• A copy of the Certificate of Electrical Inspection.