If you own a house in the city, this is good news for Toronto homeowners. The City of Toronto has announced incentives and interest-free loans of up to $125K for 15 and 20 years. The money helps you pay for upgrades that make your home use less energy.
This post describes the program as the City of Toronto announced it. Terms can change, so always check the City’s website before you apply.
What the HELP program offers Toronto homeowners
The City calls it the enhanced Home Energy Loan Program, or HELP. Its goal is to help Toronto homeowners make their homes more energy-efficient. In addition, it aims to help reduce carbon emissions, a major contributor to climate change.
So why does an interest-free loan matter? With a normal loan, part of every payment goes to interest. Here, every dollar you repay goes toward the work itself. As a result, a large project can feel much more manageable.
A long repayment term also helps. Spreading the cost over 15 or 20 years keeps each payment smaller. Meanwhile, you may start to see lower energy bills soon after the work is done. For many families, that mix makes a big upgrade possible years sooner.
Home improvements eligible for financing
The City listed a wide range of projects. Here are the home improvements eligible for financing:
- Electric heat pumps
- Insulation (attic, wall, basement)
- Upgraded windows/doors
- Air sealing
- Geothermal systems
- Rooftop solar PV
- Tankless water heaters
- Solar hot water systems
- EV charging stations (Level 2) and more
As you can see, the list covers both small and large jobs. Some Toronto homeowners may start with air sealing or attic insulation. Others may plan a full switch to a heat pump or solar power. The right choice depends on your house, your budget and how long you plan to stay.
How Toronto homeowners can plan an energy upgrade
Before you sign up, it pays to plan. A little homework now can save you money and stress later. Here are some practical steps that work for most Toronto homeowners:
- Start with a home energy assessment so you know where your house loses heat.
- Fix the basics first. Air sealing and insulation often make other upgrades work better.
- Get at least two or three written quotes from licensed contractors.
- Ask each contractor about permits and timelines before work begins.
- Keep every invoice, warranty and permit in one folder for your records.
Also, think about the order of the work. For example, a heat pump sized for a leaky house may be larger than you need after new insulation. So a good plan often saves money twice. It lowers the cost of the equipment, and then it lowers your monthly bills.
Why energy upgrades matter when you sell
Energy upgrades are not only about today’s comfort. They can also shape how buyers see your home later. Buyers often ask about heating costs, window age and the furnace. Clear answers and records give them confidence.
Likewise, features like an EV charger are on many buyers’ wish lists. If you are thinking about one, read my post on whether you need a 200-amp panel for an EV charger. Toronto homeowners who plan these projects with resale in mind can make smarter choices about what to do first.
That said, not every upgrade adds the same value in every home. A real estate agent can help you weigh which projects buyers in your area notice most. In short, spend where it helps both your comfort and your future sale.
Where Toronto homeowners can find the application
You can see details of the program and the application form on the City of Toronto’s website: City of Toronto zero-interest loans and incentives. Read the rules carefully, because eligibility and limits can change over time.
Finally, if you live in Mississauga or elsewhere in Peel, this program is run by the City of Toronto. So check with your own city for local programs. The City of Toronto has also looked at other ways to help residents, such as its down payment assistance for home buyers. It is worth a look if you are still saving for your first home.
Talk to a Mississauga real estate agent
Do you have questions about buying, selling or planning your next move? I am happy to help. You can reach me through my contact page or call me directly at 416 908 5600. A. Q. Mufti, Sales Representative, RE/MAX Real Estate Centre Inc., Brokerage.
Disclaimer: this article was published on 18 January 2025 and reflects the information available at that time. Interest rates, prices, and government programs change, so check the current position before acting on anything here. It is provided for information only and is not financial, mortgage, tax or legal advice. A. Q. Mufti is a registered Sales Representative with RE/MAX Real Estate Centre Inc., Brokerage, Ontario, Canada.
