PAYS Financing

PAYS Financing is a convenient and affordable financing option if you want to make energy efficiency upgrades to your home. It allows you to use the estimated annual utility savings from making an energy efficiency upgrade to pay for your upgrade (or a part thereof). Your annual savings are averaged out over 12 months and used to calculate your monthly payment, which will be added to your energy bill.

PAYS Financing covers qualifying upgrades for:

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  • You must be the owner of the home in which energy improvements are made and have an active Manitoba Hydro account in good standing.
  • The home must be detached or semi-detached. Mobile homes on permanent foundations with a permanent water supply are also eligible.
  • Upgrades must be made to levels recommended by Manitoba Hydro.

Financing information

  • The maximum 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.
    • Residential space heating equipment: maximum 20 year term;
    • Insulation: maximum 25 year term;
    • Drain water heat recovery systems: maximum 25 year term.
  • The monthly financing payment is less than the estimated annual energy savings averaged out on a monthly basis.
  • The annual interest rate is fixed at 4.9% (O.A.C.) for the first 5 years of the loan.
  • Monthly instalments will be applied to your energy bill.
  • The financing is transferable from one homeowner to another upon sale of the home, or from a property manager to their tenant.
  • Additional payments may be made at any time with no penalty.
  • A $20 administration fee will apply for complete payments prior to 6 months.

Financing is not available for:

  • unoccupied homes, seasonal dwellings (summer homes and cottages), apartment buildings, garages and commercial properties;
  • projects in progress or already completed;
  • 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 eligible for do-it-yourself projects;
  • labour in the absence of a qualified technology.

Transferal of financing

If you sell your home, your PAYS Financing can be transferred to the next homeowner. Your monthly payment 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 (PDF, 177 KB) (you and the new homeowner 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 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.

How to apply

A registered program supplier (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: if you are not on our registered supplier list, you can apply now to become a registered supplier.