Newfoundland & Labrador Residential Financial Incentives for Insulation

Energy Efficiency Loan Program

Newfoundland Power’s Electrical Services Financing Plans are available to current residential customers of Newfoundland Power who own the premise for which the loan is required. Customers who are renting or have a rental purchase agreement are not eligible. Financing is available upon credit approval for many electrical products and services.

Product or Service Maximum Amount Financed Maximum Term
of Financing
Electric Water Heaters $1000 for most models
$1425 for long-life heaters with a minimum 15 year manufacturer’s warranty
36 Months
R-2000 Upgrades $10,000 60 Months
Electric Heating Systems & Heat Pumps* $10,000 60 Months

Heat-Recovery Ventilation Systems (HRVs)/Energy-Recovery Ventilators (ERVs)

$5,000 60 Months
Electric Fireplace and Mantles N/A 60 Months
Service Upgrades $10,000 60 Months
Digital & Programmable Thermostats N/A 36 Months
Basement and Attic Insulation* $5,000 60 Months

How It Works

If you want to avail of financing, your first step is to get a price quote on the products or services you desire. Next fill out the Newfoundland Power Loan Application or call a Customer Service Representative at 1-800-663-2802 and advise them you would like to apply for financing.

Once financing is approved, you will be asked to sign a loan agreement which will be forwarded to Newfoundland Power when the purchase or installation is complete. 

Newfoundland Power pays the invoice directly to the retailer or contractor providing the product or service and the monthly finance amount is then added to your electricity bill.



Take Charge Insulation Rebate
Receive a rebate of 75% of the cost of insulation for your basement ceiling or walls up to $1000.

Receive a rebate of 50% of the cost of insulation for your attic up to $1000.


  • Having enough insulation can save you thousands on heating costs. Heating usually accounts for over 50% of the electricity used in electrically heated homes.
  • Insulation keeps your house cozy when temperatures drop.
  • Attic insulation helps keep your home cool in the summer and basement insulation combats humidity issues.



Energy Efficiency in Oil Heated Homes - Rebate for Insulation
\Rebates for insulation upgrades are now available for customers with oil heated homes through the Energy Efficiency in Oil Heated Homes Program. This program is delivered through takeCHARGE in partnership with the Federal and Provincial Governments.

Receive a rebate of 75% of the cost of insulation for your basement ceiling or walls up to $1000.

Receive a rebate of 50% of the cost of insulation for your attic up to $1000.



Home Energy Savings Program (HESP)
HESP is a provincial initiative designed to assist households with low income in making energy efficient retrofits to their homes. The program assists clients with retrofits that will make their homes more affordable and reduce greenhouse gas emissions that contribute to climate change.

Newfoundland and Labrador Housing Corporation (NLHC) will provide a pre and post-energy inspection.

For owners of single, row and semi-detached housing, assistance is available in the form of a grant up to $5,000 per unit.

What repairs or renovations qualify under this program?

All repairs will be identified through an energy evaluation, which will determine the best possible solutions for energy efficiency. A post-energy evaluation will also be required to confirm that identified work was completed. Examples of some repairs that will create energy efficiency are: basement and attic insulation, and draft-proofing.