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Energy Efficiency

We know that finding ways to reduce your energy consumption is important to you – and not just for the savings it brings. Using energy wisely, choosing energy-efficient products and creating energy-smart habits all help to create a better environmental future for the people of Newfoundland and Labrador. 


Since 2008, the takeCHARGE program has been bringing energy efficiency programs and products to the province. A partnership between Hydro and Newfoundland Power, takeCHARGE offers tips, incentives and rebates to make becoming more energy conscious easier for people and businesses. 

Heat Pump and Insulation Financing 

We know that heating and cooling your house is the main source of energy usage for most people. We want to help you make your home as energy efficient as possible by offering financing options for heat pumps and insulation. You can enjoy the benefits of an energy efficient home without the upfront costs! 

This program works directly with the installer to complete the approved work, submit all required documentation to Hydro and Hydro will pay the installer directly upon completion, for all costs up to $10,000. Customers are not to pay any costs unless the total install cost is greater than $10,000. For those costs, the customer will work with the installer to directly pay the difference between $10,000 and total install cost. If the total install cost of all required work is less than the incentive, the customer will not have to pay anything. Your chosen installer will have to agree to these terms and conditions to participate.

How to Apply

  • Review the program requirements below. 
  • Submit via email to, a price quote and Hydro Financing Application for the products or services you plan to install. Email is the preferred form of communication and will speed up the processing of your application. You may list an email of a family member and then you are authorizing us to communicate with them on your behalf.
  • For heat pumps, quotes must include the unit model numbers for all inside and outside units.
  • Your application will be reviewed and we will provide updates via email.
  • When financing is approved, you will receive a loan agreement to complete. 
  • When the purchase or installation of the product is completed, the installer submits the loan agreement, signed final electrical certificate of inspection and invoice. Hydro will pay the retailer or contractor directly. 
  • The monthly finance amount is added to your monthly electricity bill.

Please note:  

  • These loans are not life insured. 
  • Payments will be based on the amount of the install costs and the interest rate of Prime +4%. Interest rates are subject to change on a quarterly basis, however, the interest rate in effect at the time of signature is fixed for the period of the loan. 
  • If the Hydro electricity account is closed for any reason before the loan has been paid in full, any remaining balance and term will be transferred to the new account. If there is not another active account where the balance can be transferred to, the remaining balance will become due on the final bill. 
  • You must be the homeowner and have an active Hydro account. 
  • You must have a satisfactory Hydro collection/credit status that is current, with no arrears and no active or unmet collection activities in the last 12 months.
  • You must pass a third party credit check, including no bankruptcies or collection agency action. 
  • The heat pump/insulation must be installed in your primary residence.  

Our customers can finance up to $10,000, over 60 months, to cover the labour and material costs of a heat pump. 

Our financing plan covers the installation and purchase costs of the following types of heat pumps: 

  • Ductless mini-split and multi-split heat pumps 
  • Central ducted air source heat pumps  

To receive financing approval: 

  • The heat pump installer must be certified to perform the work. The heat pump must be installed in your primary residence by a Journeyperson Refrigeration and Air Conditioning Mechanic and a Registered Electrical Contractor working under permit. Installers must show proof of certification (their IP# from their Red Seal Certificate) to participate in our financing program. A copy of the electrical permit and final signed Certificate of Inspection must be submitted. 
  • 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. 

Our customers can finance up to $2,500, over 48 months, to cover the labour and material costs of an insulation upgrade. Rebates and financing are available for insulation upgrades to attic and basement insulation in existing homes.

  • Your primary source of heat must be electric and the home must have been connected to electricity system prior to Jan. 1, 2014. If an additional heating source is used, your home must have a minimum annual electricity usage of 15,000 kilowatt hours (kWh) 
  • Financing is available for either attics and basement/crawl space walls or attics and basement/crawl space ceiling upgrades. 
  • CSA-approved insulation with a verifiable R-Value including batt, rigid board, loose fill blown-in and spray foam are eligible. 
  • The R-Value of the insulation materials must meet the minimum and maximum R-Value requirements after the insulation is installed. Visit takeCHARGE Project Eligibility to see the R-Value requirements. 

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