Heat pump rebates, grants and loans are part of a climate-resilient future. Like many islanders, Sean Goddard is self-employed and a parent. Climate- and other home-based major maintenance and upgrades were out of reach while the kids were young. But, as his children are onto new horizons, he and his partner, who is also self-employed, are making investments now, where they can, for affordable, climate-conscious island living.
Just under two years ago, Sean applied to borrow $7,000 through a Climate Action Loan for a heat pump, which was half of the project price at the time. For his space, he needed an upper living space and his lower workshop to have all season energy- and cost-efficient heating and cooling which involved ducting on two levels. Thanks to Fresco Refrigeration, with whom Sean created the heat pump project design that suited his home, he learned about Climate Action Loans (administered by the Transition Salt Spring Enterprise Co-operative) and successfully received a loan for $7,000. Fresco also pointed Sean to the Canada Greener Homes Initiative where he applied for and received a $2,000 federal heat pump grant. As of the date of writing, the Greener Homes Initiative also offers loans for eligible home retrofits and provincially, interested folks should also check out the CleanBC Better Homes program for energy savings grants for single-family and multi-unit residential buildings.
Goddard realized right away that the low interest of the Climate Action Loans and easy monthly payments of principal plus interest are a no brainer. “This enables me to pay other debts, business or otherwise, in spurts when income is flush and just keep plugging away monthly until the 24-month repayment period on the [Climate Action] loan is up”, he explained. He suggested it may also be useful for young people on the island to understand what Climate Action Loan borrowing might offer to them in achieving e-bike transportation, or other climate-readiness, instead of relying on credit card interest payments, for example.
In fact, Goddard was not shocked to hear that the maximum Climate Action Loan amount is being raised to $10,000, and that borrowers are a great lot – none of them have ever defaulted on the full repayment of their loan. “It was easy to meet a representative in town to sign some papers [for the loan]. It was all super fluid and friendly. It’s so worth it,” enthused Sean. “Maybe I will apply for a Climate Action Loan to help with re-insulation costs, or other such projects in the future,” he concluded.
You, too, may take action for our climate by applying to join either or both the lending and borrowing! Explore Climate Action loan possibilities here to learn about eligible projects, membership, lending and borrowing!
Created by Salt Spring Loans Director Shannon Cowan in August 2025 from an interview with Sean Goddard