Better Homes Peterborough: Two Financing Streams Up to $50,000

Better Homes Peterborough is the City of Peterborough's home-energy retrofit financing program, delivered in partnership with EnviroCentre and GreenUP. What sets it apart from most municipal programs is that it offers two financing streams rather than one. These are the published terms as of July 2026, and terms and cap amounts change as regional funding is committed — confirm the current details on the program's official website before applying.

The maximum loan is $50,000. You can take it as a Local Improvement Charge (LIC) at 4.50% fixed over 15 years, repaid through your property tax bill, or as a Kawartha Credit Union (KCU) loan at 4.95% variable over 5 years, which is a separate credit union loan. The KCU stream is generally the better fit for smaller projects, since the LIC carries a $10,000 minimum. The top incentive available is $3,600.

If you are weighing how the two streams and the incentive fit together for your project, Solify's residential incentives guide compares the options side by side and notes where they can and cannot overlap.

The process runs through a portal. Your application takes roughly ten business days and includes a review of five years of tax and utility history; once accepted you can track status online. A Program Introduction Call is followed by a Notice to Proceed setting out your funding stream details. You then book a pre-retrofit EnerGuide assessment (or upload an existing one), attend an Energy Coaching session that confirms your plan meets the savings targets, and submit a Funding Request with contractor quotes — about a week to review. After choosing and signing for LIC or KCU, you complete the retrofits, with 50% available as an initial disbursement to cover deposits. A post-retrofit assessment and Completion Report release the final payment.

Eligibility is broader here than in several comparable programs. Detached homes, semis, townhouses and multi-unit buildings up to three storeys within the City of Peterborough qualify. You need a tax account in good standing with the City for five years, or a credit score of 600 or higher if you are a newer owner. Notably, landlords and rental properties are eligible and there is no primary-residence requirement. The property must not be in CMHC Mortgage Deferral or the City's Tax Deferral Program. The project must include air sealing where the home tests at 5 or more ACH50, plus a qualifying heat pump, solar, or a combination reaching a 25% or greater reduction.

Eligible upgrades cover the building envelope (insulation, air barriers and sealing, ENERGY STAR windows, doors and skylights), mechanical systems (thermostats, HRV/ERV, heat pumps, high-efficiency water heaters, drain water heat recovery), renewables (solar PV and battery storage), and smart or certified efficient products including permanently affixed lighting and controls. Up to 30% can go toward electrical upgrades, Level 2 EV chargers, backflow valves, low-flow fixtures, and some cosmetic work.

Useful FAQ answers: you can apply twice for the same property as long as the combined total stays under $50,000; cosmetic upgrades can be funded up to 30% of the eligible energy-efficiency cost; and if you sell, you either pay the LIC off in full or it transfers to the new owner, which must be disclosed to buyers. The program asks that you aim to complete work within one year of the Notice to Proceed.

Contact details published by the program are betterhomesptbo@envirocentre.ca, 1-888-284-9417 and betterhomesptbo.ca. This page is an independent explainer rather than an official program page.