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At 4 Seasons Heating, Cooling & Electrical, we carry a wide variety of products with a wide range of payment options based on your financial needs. Most of the products we carry come with a manufacturer's program that enables our customers to take advantage of new, energy efficient technology and save on monthly energy cost - all while enjoying the perks of clean air and ideal indoor temps while they pay back in low monthly instalments.
Along with the financing available with our manufactures, Manitoba Hydro also provides some options when it comes to upgrading your heating, cooling, ventilation and hot water systems. Here are 3 financing programs that Manitoba Hydro is currently providing that we can assist with.
Power Smart Residential Loan
Manitoba Hydro offers a Power Smart Residential Loan (PSRL) program that offers loans for home owners ranging from $500 - $7,500. Terms range anywhere between 6 months and 5 years depending on your plan, currently sitting at a fixed interest rate of 4.8% for the first 5 year term. This plan can be used towards furnace and ventilation upgrades. From the maximum $7,500, up to $5,500 can apply directly to the cost of a high-efficient furnace. The direct furnace cost can extend the loan term up to 15 years. Minimum monthly payments start at $15 and no down payment is required. The PSRL becomes fully payable when the house is sold and is not transferrable. Monthly instalment payments will be included on your energy bill which can only be incurred by the owner - not a tenant.
PAYS (Pay As You Save) Financing
Manitoba Hydro offers the PAYS program which enables home owners to pay back energy efficient upgrade loans with the savings they receive through the energy cost savings. This plan can be used for furnace and hot water tank upgrades. The minimum financing amount is $500 and can be transferred from one home owner to another. Maximum terms depend on the value of the upgrade. Current interest rates sit at 3.9% for the first 5 year term. Monthly instalment payments are less than the estimated energy savings averaged out over the year and are included on your monthly energy bill. PAYS financing cannot be combined with any other Manitoba Hydro Power Smart packages.
EPF (Energy Finance Plan)
Manitoba Hydro offers the EPF financing plan that lets home owners borrow between $500 and $5,000 anywhere from 6 months to 5 years with a current interest rate of 6.75%. This loan can be used for electrical, natural gas, ventilation, hot water tank, air conditioner and furnace upgrades. Minimum monthly payments start at just $15 and no down payment is required. All work must be done by a licensed contractor who is a participant in the Energy Finance Plan and credit approval must be pre-arranged. The loan becomes payable when the house is sold and is not transferrable. This loan applies only to new air conditioners with a minimum Seer of 13.0, hot water tanks with a CSA C-191 standard and electric or natural gas furnaces.
At 4 Seasons Heating, Cooling & Electrical our knowledgable sales team is here to provide you all the options when it comes time to upgrade your home's energy products. We can walk you through product specs, financing options and make recommendations so you get the best product at the best cost under the best payment plan for your situation.
Whether you choose to take advantage of our manufacturer's financing packages, or would rather work within the Manitoba Hydro programs, we can assist you through either option. Call us today at (204) 953-5700 to schedule a free, on-site, no obligation quote.