Geothermal heat pump systems operate more efficiently than an ordinary heating and air conditioning system because they can deliver an astounding five units of energy for every one unit of electrical energy used. By combining stored earth energy with safe electric power, geothermal owners realize savings up to 70% for heating, cooling, and hot water. Geothermal heating and cooling systems pay for themselves thanks to the enormous energy savings generated.
In support of the province's Go Green Plan, SaskPower Eneraction has developed a loan program for residential and farm customers who choose to install a Canadian Geoexchange Coalition (CGC) certified geothermal heating and/or a renewable electricity system. This program is applicable to residents who install a system in a new home, or choose to retrofit an existing home to accommodate a geothermal and/or renewable system. Eligible customers can receive a loan for up to $25,000 to install a geothermal system, and/or a loan of up to $25,000 to install a renewable electricity generation system. The minimum loan is $5,000 and the total of the loan(s) cannot exceed $50,000. The interest rate for this loan program is 2% lower than SaskPower’s standard lending rates, which will vary depending on the term of the loan(s).
SaskEnergy, on behalf of the Ministry of Environment, is offering an Energy Efficient Rebate for New Homes. The program provides incentives to Saskatchewan residents who purchase or build a newly constructed energy efficient home after April 1, 2007 that is either ENERGY STAR qualified, R-2000 certified or has an EnerGuide for New Homes rating of 80 or above.
The rebate program will help offset the cost premium that is often associated with purchasing an energy efficient home and Saskatchewan residents are eligible for up to $3,500 for the installation of a CAN/CSA-C448 compliant Geothermal System.