Investing Solar Water Heating for you at Home

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.

Forms

Alternative Heating Loan Program Application for Financial Assistance

Printable version of this form [554 KB PDF File]

Residential Energy Assistance Program Client Information Form

Submit this form online

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]

Comments

If you have looked into solar energy as a method for heating your home, panels are usually the first things that come up. There are, however, other unique methods.

The Solar Heating Aspect You Have Never Heard of Before

The power of the sun is immense. The energy in one day of sunlight is more than the world needs. The problem, of course, is how does one harness this power. Solar panels represent the obvious solution, but they have their downside. First, they can be expensive depending upon your energy needs. Second, they do not exactly blend in with the rest of your home.

Passive solar heating represents a panel free method of harnessing the inherent energy found in the sun for heating purposes. If you come out from a store and open the door of your car in the summer, you understand the concept of passive solar heating. A wide variety of material absorbs sunlight and radiates the energy back into the air in the form of heat. Passive solar heating for a home works the same way as the process which overheats your car in the parking lot.

Posted by: heating | March 09, 2007 at 01:04 PM