Utility On-Bill Financing
Run by Newfoundland Power and Newfoundland and Labrador Hydro
The Utility On-Bill Financing offers homeowners low-interest loans of up to $10,000 for heat pumps, insulation and smart thermostats in Newfoundland and Labrador. It’s a loan you repay, not a rebate.
Loans up to
$10,000
Verified
You apply on takechargenl.ca
At a glance
| Maximum amount | $10,000 CAD (2026)Up to $10,000 over 60 months (NL Hydro, heat pumps) |
|---|---|
| Funding type | Loan |
| Status | Open |
| Who can apply | Homeowners |
| Energy assessment required | No |
| Income-tested | No |
| Deadline | No end date published |
| Where | Newfoundland and Labrador |
| Level | Utility |
| Run by | Newfoundland Power and Newfoundland and Labrador Hydro |
| Official page | takechargenl.ca/financing |
| Last verified | |
| Verified by | Rebate Researcher, RebateHub |
| Confidence | MediumOfficial pages are incomplete or inconsistent on some details. |
Utility On-Bill Financing. RebateHub.ca, https://rebatehub.ca/rebates/nl-on-bill-financing#key-facts. Last verified October 12, 2026. Official source: https://takechargenl.ca/financing/
What you can get
| Upgrade | What you get | Up to |
|---|---|---|
| Heat pumps (NL Hydro)Finance up to $10,000 over 60 monthsPrime + 4% | Finance up to $10,000 over 60 months | $10,000 |
| Attic and basement insulation (NL Hydro)Finance up to $2,500 over 48 monthsPrime + 4% | Finance up to $2,500 over 48 months | $2,500 |
| Efficiency upgrades (Newfoundland Power)On-bill financingAsk Newfoundland Power for current limits and rate | On-bill financing | Varies |
How it works
The monthly payment is added to the electricity bill. Financing is subject to a credit check.
NL Hydro finances heat pumps up to $10,000 over 60 months and attic and basement insulation up to $2,500 over 48 months, at prime plus 4%; the rate in effect when you sign is fixed for the term. Newfoundland Power's plan covers insulation, thermostats, HRVs, R-2000 upgrades, heat pumps and electric heating systems, electric water heaters, electric fireplaces and service upgrades.
Who qualifies
- You own the home, it is your primary residence and you have an active account with the utility
- No arrears or recent collection activity, and a satisfactory third-party credit check
- NL Hydro heat pumps must meet minimum efficiency (HSPF 10 for mini-splits, 9 for multi-splits) and be installed by a certified refrigeration mechanic and registered electrical contractor
How to apply
Step 1: Get a quote for the work
Step 2: NL Hydro customers email the financing application and quote to financing@nlh.nl.ca
Step 3: Newfoundland Power customers apply through their online account or call 1-800-663-2802
Get quotes from Newfoundland and Labrador installers
Free, no obligation. We pass your request to up to 3 independent installers who serve your area and, where a program requires it, are registered with it.
- 1. Your project
- 2. Your contact details
- Installers checked against your program’s contractor list, where it has one
- Installers pay us, never you
- Sent to up to 3 installers who serve your area. We don't sell or rent lists.
Stacks with this program
The program says these can be combined with it for the same home. Check each one’s rules for the same upgrade before you count on both.
- Last verified October 12, 2026OpenUtilityNewfoundland and Labrador
Oil to Electric Incentive Program
Homeowners heating with oil (or propane) can get up to $22,000 toward switching the whole home to electric heat, with the highest amounts for income-qualified households installing central heat pumps.
$9,000
max rebate
Up to $22,000 if income-qualified
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takeCHARGE Insulation Rebates
Electrically heated homes can get 75% of attic and basement insulation costs back, up to $1,000 per area plus up to $500 per area for professional labour, for a total of up to $3,000.
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max rebate
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Sources
Other sources we checked