Program Details

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

• $1200 for electric water heaters;
• $1425 for long life electric water heaters with a minimum 15 year manufacturer’s warranty.

How the program works

1. Contact your local plumber or plumbing/building supply dealer directly to request financing under the Newfoundland Power Electrical Services Financing Plan.
2. Have your Newfoundland Power account number available; we will require it for credit approval.
3. Apply for financing by completing the Newfoundland Power Loan Application or calling 1-800-663-2802 .

Buildings must meet R-2000 Standards and receive certification from an R-2000 builder to qualify for financing. Find more information on R-2000 here.

Newfoundland Power financing covers the installation and purchase costs of the following types of heat pumps:

• Ductless mini & multi split heat pumps
• Central ducted air source heat pumps
• Ground source (geothermal) heat pumps

To receive financing approval:

1. The heat pump installer must be certified to perform the work. The heat pump must be installed by a Journeyperson Refrigeration and Air Conditioning Mechanic, and a Registered Electrical Contractor working under permit. Installers must show proof of certification to participate in our financing program. A copy of the electrical permit must be submitted.
2. Ductless split heat pumps must meet minimum equipment requirements to be eligible for financing. A mini split (one indoor unit) must have a Heating Seasonal Performance Factor (HSPF) of 10 or higher, while a multi split (multiple indoor units that can be controlled independently) must have an HSPF of 9 or higher.
3. Complete the Newfoundland Power Loan Application or call 1-800-663-2802.

Newfoundland Power financing covers the installation and purchase costs of electric heating systems including electric baseboard heat and electric furnaces.

To receive financing approval:

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.

Financing of up to $5000 is available for up to 60 months for the purchase and installation of energy efficient mechanical ventilation systems.

• Heat Recovery Ventilation Systems must be rated to have 70% or higher sensible heat-recovery efficiency (SRE) at 0 degrees Celsius AND 63% at -25 degrees Celsius.
• Heat Recovery Ventilation Systems must be installed by an installer registered with HRAI (Heating, Refrigeration and Air Conditioning Institute of Canada).
• A signed loan agreement must be accompanied by an official invoice or receipt from a certified HRAI installer.
• Only Heat Recovery Ventilation Systems that are certified by HVI (Heating, Ventilation Institute) are eligible for financing.

To view qualifying models, a list of certified installers, or to obtain HRV rebates, customers should visit the takeCHARGE website or contact Newfoundland Power via phone or e-mail. Once the HRV installation is complete qualifying customers can apply for a rebate through the takeCHARGE Program. Visit takechargenl.ca for more details.

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.

Newfoundland Power finances the installation and purchase costs of upgrading the electrical service in your home.

To receive financing approval:

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.

Rebates and financing up to 36 months are available for the purchase and installation of high performance electronic or programmable thermostats with a rating of +/- 0.5 degree Celsius or less in a home where electric heat is the primary heating source. Customers purchasing qualifying thermostats may apply for a rebate through the takeCHARGE Program. For more information please visit takechargenl.ca.

Rebates and financing are available for insulation upgrades to attic and basement insulation in existing homes. Please note only electrically heated homes connected to electricity system prior to January 1, 2014 are eligible for insulation rebates.

Customers can finance up to $5000, over 60 months, to cover the labour and material costs of an insulation upgrade in a home where electric heat is the primary heating source. Insulation is to be installed to National Building Code standards.

To obtain insulation rebates, customers should visit the takeCHARGE website or contact Newfoundland Power via phone or e-mail. Once the insulation work is complete qualifying customers can apply for a rebate through the takeCHARGE Program.