News Release - December 15, 2008
NEW FINANCING PROGRAMS FOR GEOTHERMAL HEATING AND RENEWABLE POWER SYSTEMS
The provincial government has developed a suite of programs designed to encourage the use of environmentally responsible energy sources.
The suite includes a new loan program for people who install a Canadian Geoexchange Coalition (CGC) certified geothermal heating system and/or generate their own power from renewable sources, such as wind or solar.
"These programs will provide financial support to the growing number of Saskatchewan people who want to heat their homes with geothermal or power their homes with alternative energy sources," Crown Corporations Minister Ken Cheveldayoff said. "Encouraging smaller-scale, environmentally responsible generation is part of our commitment to curb greenhouse gas emissions and ensure our province has a sustainable and reliable energy supply mix, as outlined in our Go Green Plan."
Those eligible can receive a loan for up to $25,000 for installing a geothermal system, and/or a loan of up to $25,000 for installing a renewable system in a new or existing home. The program, effective immediately, will be delivered through SaskPower Eneraction - the utility's portfolio of energy efficiency, conservation and load management programs.
"Interest in geothermal systems and self-generation is increasing as the cost for these technologies comes down," SaskPower president and CEO Pat Youzwa said. "Providing financial support will make it even more feasible for our customers to pursue these environmentally responsible choices."
Enhancements have been made to the existing Energy Efficiency Rebate for New Homes Program delivered through SaskEnergy. Saskatchewan residents who build a new ENERGY STAR® qualified, R-2000 certified or EnerGuide 80 home may be eligible to receive a rebate of up to $3,500 for the installation of a geothermal system. The rebate, retroactive to January 1, 2008, is the largest rebate for new homes offered in Canada.
The province is also topping up support to the Net Metering Program. Residents who wish to self-generate electricity using environmentally-friendly sources, such as wind or solar, could now receive a rebate of up to $35,000, retroactive to April 1, 2007.
A geothermal rebate program is also being designed for commercial customers. This program will be introduced in the spring of 2009.
Information about these loan and rebate programs is available at www.saskpower.com.
For more information, contact:
Geothermal Fact Sheet.pdf (11.4 KB)