On Bill Financing – BC Hydro & Fortis BC
Early this week, it was announced that On Bill Financing pilots are coming from Fortis BC and BC Hydro. A regulation under the Clean Energy Act approved by Energy and Mines Minister Rich Coleman confirms that two (2) energy efficiency On Bill Financing pilots will be launched in the Fall. In terms of location and timing, On Bill Financing pilots have been earmarked for Colwood (BC Hydro) and South Okanagan (Fortis BC) to go live by November 1, 2012.
So, what is On Bill Financing? Well, On Bill financing gives customers the ability to finance energy efficiency improvements made to their homes typically at no upfront cost. Customers pay for the insulation, new heating systems or other efficiency measure saver extended terms on their monthly utility bills.
Although full model details have not been released by the utilities, early indications are that On Bill Financing pilots in BC will include the following: Air Sealing, Mechanical Ventilation, Attic Insulation, Exterior Wall Insulation, Basement / Crawl Space / Header Insulation, Primary Heating Solutions, Domestic Hot Water and Window & Door Replacements.