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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! 

How to Apply

  • Review the program requirements below. 
  • Submit a price quote and Hydro Financing Application for the products or services you plan to install. Email or contact our customer service team at 1.888.737.1296
  • Your application will be reviewed and we will provide updates via email (or regular mail if requested). 
  • When financing is approved, you will receive a loan agreement to complete. 
  • When the purchase or installation of the product is completed, submit your loan agreement 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. 
  • Your payment will be based on the amount of your purchase 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 you close your account before the loan has been paid in full, any remaining balance and term will be transferred to your new account. If you do not have another active account, the remaining balance will become due on your final bill. 

General Financing Requirements

  • You must be the homeowner and have an active Hydro account. 
  • You must have a satisfactory Hydro collection/credit status 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.  

Heat Pump Financing Requirements

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 
  • Ground source (geothermal) 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 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. 

Insulation Financing Requirements

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.