RBC Energy Saver Loan

If you've recently purchased-or are planning to purchase-an energy efficient product or service for your home, you could qualify for the RBC Energy Saver Loan.

This innovative and "green" financing solution can help you create a more energy efficient home faster while saving on your borrowing costs.



Sponsoring agency: Royal Bank of Canada (RBC)
Type of agency: Financial institution

Program offerings

Receive 1% off the interest rate for your fixed rate instalment loan over $5,000

OR

Receive a $100 rebate on a home energy audit on a fixed rate instalment loan over $5,000.

Eligibility

The following products and services are eligible for Energy Saver Loans:

  • Environmentally-friendly products and services recommended as a result of a home energy audit
  • Products and services that qualify for a government grant as outlined by the Office of Energy Efficiency
  • ENERGY STAR qualified products, which could save you hundreds of dollars in energy costs over time
  • Hybrid cars

Application procedure

A home energy audit is a report generated by a licensed professional who is specially trained to examine your home's major heating and cooling systems. They will make recommendations to help you improve your home's energy efficiency and lower your energy costs. You can then decide what you want to do and how much you want to spend.

Simply follow these steps to arrange for your home energy audit.

  1. Choose a licensed home auditor through the Natural Resources Canada website at www.oee.nrcan.gc.ca . Obtain quotes from a few auditors and choose one that you feel offers the best overall value.

    Note: To qualify for the $100 rebate, your audit must be completed sometime within the 90 days prior to being approved for your loan or within 90 days after receiving your loan.

  2. Once your audit is complete, obtain a receipt or invoice from the auditor for a refund from RBC

Receiving Your RBC Energy Audit Rebate

  1. Submit your audit receipt or invoice to your branch within 120 days of receiving your RBC Energy Saver Loan.
  2. Your home energy audit rebate will be credited to your RBC account. The amount will be the actual invoiced amount of the home energy audit, up to a maximum amount of $100.


Contact information

Telephone: 1-866-719-2880
Website: RBC Energy Saver Loan

Other Ways to Turn Energy Saving Efforts into Cash

To receive additional government rebates and incentives that you may be entitled to, be sure to follow these steps:

  • Complete some or all of the suggested renovations and improvements within 18 months and have your auditor return to verify the work. Your auditor will submit an application on your behalf to both the federal and provincial governments.
  • Ask your municipal government if similar incentives and rebates are available in your community.

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