Power Smart Residential Loan

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

The loan covers qualifying upgrades for:

Calculate your payments.


  • Your monthly payment will be added to your energy bill.
  • Your home will be more energy efficient and comfortable.
  • No down payment is required.

Financing information

  • The minimum allowable loan amount is $500.
  • The maximum allowable loan is $7,500 in total, of which up to $5,500 can be applied toward the purchase of a high efficiency natural gas furnace.
  • The maximum term is 5 years. If the loan (or part of the loan) is for a high efficiency natural gas furnace, that portion has a maximum term of 15 years.
  • The minimum monthly payment is $15.
  • No down payment is required.
  • The loan becomes due and payable when the house is sold. The loan is not transferrable.
  • Annual interest rate is fixed at 4.8 per cent (O.A.C.) for the first 5 years.
  • Monthly instalments will be included on your energy bill. Loan billing and the responsibility for loan payment will be up to the owner and not to a tenant.
  • You 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 complete payments prior to 6 months.
  • Indigenous customers living in Band-owned homes are eligible for financing with a Band Council Resolution.
  • You cannot combine Power Smart Residential Loan financing with any other Power Smart financing option for the same upgrade.

Financing is not available for:

  • unoccupied homes, seasonal homes (cottages), apartment buildings, garages, commercial properties, and homes under construction;
  • 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;
  • labour in the absence of a qualified technology;
  • central air conditioning (see the Energy Finance Plan (EFP)).

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 loan application.

Contractors and retailers can find more information on the Power Smart Residential Loan by contacting us.