PEI offers loans of up to $5,000 at 6% to fund renewable. There is also a PST refund as well. Sara Fraser found the application process both fast and easy.
Here is the website with all the information.
Here is a summary:-
Alternative Heating Loan Program
The Alternative Heating Loan Program provides low-interest loans to help Islanders buy alternative heating systems. That includes:
- wood-burning appliances
- wood-pellet burning appliances
- solar air heating systems
- solar water heating systems
(the above items must comply with CSA codes or have EPA certification)
- ground- or water-source heat pump systems with Energy Star certification
- drain water heat recovery systems
Loans of a minimum $1,000 and maximum $5,000 per household are available at an interest rate of 6% annually. The loan can be used to purchase any of the above alternative heating systems; to install the system; and to purchase any accessories that are required for the safe and efficient operation of the system. For example, if you are installing a wood stove and need a new chimney to operate it, you may apply for the loan to purchase the stove and build the chimney.
To be eligible for this program, the applicant(s) must be a full-time resident of Prince Edward Island and own the home the equipment is being purchased for and installed in. There are no income restrictions on eligibility.
Please Note: If you received a loan in 2005/06 under the Alternative Heating Loan Program, you cannot apply for another loan in 2006/07.
Provincial Sales Tax (PST) Exemption
There is a PST exemption on small-scale renewable energy equipment with a rating of 100 kilowatts or less (100 kilowatts = 340,000 BTUs). Items which are exempt from provincial sales tax include:
- wind energy generating systems
- biogas energy generating systems
- ground-source or geothermal heat pump energy generating systems
- solar thermal energy collection systems
- solar photovoltaic energy collection systems
- drain water heat recovery energy collection devices
The PST exemption on small-scale renewable energy equipment is retroactive to April 8, 2005. If you have purchased an item since April 8, 2005 and paid PST, you can request a tax rebate by completing the Request for Refund of Revenue Tax form. You must attach the original invoice or receipt. It will take about six weeks to receive the rebate.
For more information on the PST exemption on renewable energy equipment, contact Provincial Treasury, Taxation and Property Records, at (902) 569-7542.
Alternative Heating Loan Program Application for Financial Assistance
Printable version of this form [554 KB PDF File]
Residential Energy Assistance Program Client Information Form
Printable version of this form [93 KB PDF File]
Programme d'aide liée aux coûts d'énergie domestique Formulaire de renseignements sur le client
Printable version of this form [77 KB PDF File]
Request for Refund of Revenue Tax (PST)
Printable version of this form [162 KB PDF File]
- Residential Energy Assistance Program Frequently Asked Questions
- Programme d’aide liée aux coûts d’énergie domestique
- Alternative Heating Loan Program Frequently Asked Questions
- Stretch Your Home Heating Budget
- Information on Various Heating Sources
- Federal Energy Efficiency Programs and Information
- Make Your Gas $ Go Farther