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Power Smart PAYS Financing

Our Power Smart PAYS Financing is a convenient and affordable financing option if you want to make energy efficiency upgrades to your home.

PAYS Financing covers upgrades for:

Multiple upgrades may increase your utility bill savings, which may increase the amount eligible for financing.

Benefits

  • Because it is tied to your property the financing is transferable from one homeowner to another, or from property manager to tenant.
  • Your monthly payment is less than your estimated annual utility savings*. These savings are averaged over 12 months and are used to determine your monthly payment.
  • Your monthly payment will be added to your energy bill.

*Estimated annual utility savings after qualifying upgrades have been completed.

Financing Information

  • The minimum allowable financing amount is $500.
  • The financing is transferable from one homeowner to another, or from property manager to tenant.
  • The maximum financing term depends on the upgrade. If multiple upgrades are financed at the same time, the maximum finance term for all upgrades will be based on the upgrade with the longest term. Multiple upgrades may increase your utility bill savings, which may increase the amount eligible for financing.
  • The monthly financing payment is less than the estimated annual energy savings averaged out on a monthly basis.
  • Annual interest rate is fixed at 3.9 per cent (O.A.C.) for the first 5 years.
  • Monthly instalments will be included on your energy bill.
  • Applicant must be the owner of the home in which energy improvements are made and have an active Manitoba Hydro account in good standing.
  • Upgrades must be made to levels recommended by Manitoba Hydro.
  • Additional or complete payments may be made after 6 months from the first finance charge on your account. A $20 administration fee will apply for any additional or complete payments prior to 6 months.
  • Applicant cannot combine PAYS financing with any other Power Smart financing option for the same upgrade.

Financing is not available for:

  • unoccupied homes, seasonal homes (cottages), or apartment buildings;
  • projects that have been started prior to or during the application process;
  • used equipment or materials;
  • natural gas and electrical materials that are not installed by an allied gas fitter/electrician, licensed by the province of Manitoba;
  • the installation of electrical equipment for any building not previously equipped with electrical service;
  • your labour; only materials and equipment are covered for do-it-yourself projects.

Transferal of Financing

If you sell your home, your Power Smart PAYS financing can be transferred to the next homeowner. Your PAYS financing can also be transferred to a tenant that rents your property.

If you would like to transfer your PAYS financing to the next owner:

  • complete the PAYS Owner Assignment and Novation Agreement (you and the new property owner must sign it);
  • submit the original PAYS Owner Assignment and Novation Agreement to Manitoba Hydro no less than 15 days prior to the sale or transfer of property.
  • it is the responsibility of the seller to submit and ensure both the buyer and seller receive copies of the PAYS Owner Assignment and Novation Agreement.

If we do not receive the original PAYS Owner Assignment and Novation Agreement, the financing will not be transferred to the buyer, and you will be billed the total remaining balance of the financing on your final bill for that property.

Submit the Agreement to:

Manitoba Hydro
Power Smart PAYS Financing
360 Portage Avenue
Winnipeg, MB R3C 0G8

How to Apply

Your contractor or retailer will work with you to determine if your project is eligible for financing and will help you complete the PAYS Financing Agreement.

Contractors and retailers can find more information on Power Smart PAYS Financing by contacting us.