Oil to Heat Pump Financing Program


  • This program is now fully subscribed
  • The program is now taking a waitlist. 
  • To add your home to the waitlist, please fill out and submit a Program Registration Form.

The District of Saanich is offering up to $12,000 in 0% interest financing to help you upgrade your existing oil furnace or boiler to an efficient electric heat pump. The financing is repaid over 10 years through an additional levy on the home’s property tax payments.

Watch the recorded online webinar to learn more about the Saanich Oil to Heat Pump Financing Program, or check out the presentation!

Participants are encouraged to combine this offer with the rebates available to reduce the cost of their heat pump by accessing:

Questions/Program Contact Information

For more information, contact City Green Solutions, the program's administrator at:

Why is Saanich Offering the Oil to Heat Pump Financing Program?

Saanich is committed to eliminating carbon-intensive oil heating in our community by 2030 in order to reduce our greenhouse gas (GHG) emissions and achieve our climate targets. Heat pumps provide efficient heating and cooling with renewable energy and should save you money on your heating bills compared to oil. Check out BC Hydro’s resources on what a heat pump is and how it works.

This type of innovative financing, sometimes called Property Assessed Clean Energy or PACE financing, is the first of its kind in BC, but has been used by many jurisdictions across Canada and the US to encourage energy retrofits in existing buildings.

Steps to Participate

  1. Understand the Program. Read the Program Terms and Conditions [PDF - 101 KB] and the Heat Pump Financing Service Bylaw [PDF - 17 KB]. Have your questions answered by reading through our Frequently Asked Questions document [PDF - 899 KB]
  2. Apply for the Program. Complete the Registration Form [PDF - 146 KB] (see details on form and document submission below). Receive notice of pre-approval from the program.
  3. Petition for the Financing. Complete and submit the Petition (template will be provided), which requests the creation of a local area service under section 212 of the Community Charter. Council will enact a Local Area Service Bylaw for your property (deadline for petitions in second intake is October 18, 2022).
  4. Carry out the pre-installation eligibility requirements.
    • Complete an EnerGuide home evaluation on your home. Financial support to help offset the cost of the EnerGuide evaluation is available through the Canada Greener Homes Grant.
    • Obtain quotes (at least three is recommended) from our list of Eligible Contractors.
    • Submit a copy of your EnerGuide Evaluation (Renovation Upgrade Report) and the preferred quote you have selected
    • If you have a mortgage, it is strongly recommended that you discuss your participation in this program with your lender to ensure it does not breach any terms of your mortgage. You will be provided a program information letter upon registration to give to your lender.
  5. Sign the Financing Agreement. You will receive a financing agreement once all documentation has been reviewed. Sign and return the agreement.
  6. Carry out the installation. Have your heat pump installed and remove the oil heating system and oil tank(s). Your contractor must obtain all required permits, including for oil heating system and oil tank(s) removal. Once the work is complete, co-sign the Work Completion Report with your contractor.
  7. Settle the Balance. Your contractor will submit the final documentation, including invoice and the District of Saanich will pay your contractor directly, up to $12,000 (including taxes). You must pay any outstanding balance above $12,000 to the contractor at the time of invoice. Pay back the financed amount over a 10 year period on your property taxes.

Oil to Heat Pump Financing Eligibility Requirements

  • The property must be located within the District of Saanich and must be the owner’s primary residence.
  • You must live in an eligible home type (single family, duplex, or qualified townhouse or mobile home).
  • The home must be primarily heated with oil heating.
  • Your property must be in good standing with regards to property taxes and municipal utility bills
  • You must apply to the program and have your financing agreement signed before starting any work.
  • Please view the Terms and Conditions [PDF - 101 KB] for full eligibility requirements and review our Frequently Asked Questions. [PDF - 899 KB]

50% of program spaces are reserved for income qualified households (please see below for income qualification thresholds). Income-qualified participants are encouraged to pre-register with CleanBC’s Income Qualified Program first, then register with Saanich’s Oil to Heat Pump Financing Program.

Apply soon – a limited number of spots are available for this pilot program. Participants will be accepted on a first come, first served basis.

Eligible Upgrades and Requirements 

  • Ducted Central, Ductless Mini-Split, Air-to-Water, or Combined Space and Hot Water Heat Pumps are eligible for this program, with system requirements equivalent to the Provincial CleanBC Better Homes Program. Please review the CleanBC terms and conditions for requirements of specific system types. Key terms of the program include:
    • The installed system must have an AHRI certified reference number and must be on the CleanBC and Home Renovation Rebate Program Qualifying Product List.
    • The heat pump must be installed by a Program Eligible Contractor (all contractors on Saanich's Eligible Contractor List are also CleanBC Program Registered Heat Pump Contractors).
    • The heat pump must become the primary heating system of the home.
    • Any back-up heating installed must not be fossil fuel.
  • All oil heating equipment must be removed and you must obtain the required permits from the Saanich Fire Department.
    • Replacement of broken oil equipment is not eligible.
  • Electrical service upgrades required for the installation of the heat pump are eligible.
  • Additional heat pump air filtration systems, ducting modification and/or duct cleaning are eligible.


  • The remaining spaces will be held for income-qualified participants until noon on September 15, 2022. After this time, the remaining spaces will be opened up to waitlisted participants.
  • The second intake deadline is October 18, 2022 for signed Petitions. Petitions received by this date will be brought to Council to enact local area services for participating properties.
  • The Work Completion Report must be received within 10 months of the Local Area Service Bylaw being adopted for your property.
  • This may be the final intake, as the program is nearly full. Check back to the program webpage for upcoming intakes and deadlines.

Form and Document Submission

You may submit this registration form, and other documents and forms throughout the program in the following ways:

1. By Secure Online Portal (TitanFile Secure Submit)

2. By Mail:

Saanich Oil to Heat Pump Financing Program
C/O City Green Solutions
214-620 View Street
Victoria, BC V8W 1J6

3. In person:

City Green Solutions
214-620 View Street
Hours: 9am-5pm, M-F

Saanich Municipal Hall
3rd Floor Planning Desk
770 Vernon Ave
Hours: 8:30am-4:30pm, M-F

If you have any questions about the program or need support, please see our FAQs [PDF - 899 KB] or contact the program administrator at info@SaanichHeatPumpFinancing.ca or by phone at (778) 405-1123, (toll free: 1 (866) 381-9995 and ask about the Saanich Oil to Heat Pump Financing Program).

Income-Qualified Participants

The remaining spaces in the program will be reserved for income-qualified participants until noon on September 15, 2022. To be eligible as an income-qualified participant, the combined income of the primary income earning adults (over the age of 18) in the family must be below the following thresholds:

Number of people in household
(includes children)

Household income (before tax)
1 Up to $55,903
2 Up to $69,596
3 Up to $85,560
4 Up to $103,880
5 Up to $117,820
6 Up to $132,880
7 or more Up to $147,943


If you are an income-qualified household, we recommend you first pre-register for the CleanBC Income Qualified (IQ) Program at betterhomesbc.ca/rebates/income-qualified. The IQ program will pay your contractor directly for the eligible rebate, and the balance is eligible for financing from Saanich.

Participants can submit proof of income from the past 12 months in any one of the following ways:

  • CleanBC Income Qualified Program Participant Opportunities Report; or
  • Proof of Saanich L.I.F.E. program membership (LIFE sticker on your Rec Card); or
  • Notice of Assessment for two main income earners in the family (Canada Revenue Agency); or
  • Verification of income assistance or Provincial disability assistance (e.g. your cheque stub or Confirmation of Assistance).

Other Resources

  • Bring it Home 4 Climate: Considering other complementary upgrades (such as insulation, or windows and doors?) but want some expert advice on what upgrades may be right for you and your home? Want some support in comparing and interpreting your heat pump quotes? Get a free Virtual Home Energy Check Up to get extra help along the way!
  • CleanBC Resources:

Questions/Program Contact Information

For more information, contact the program administrator at info@SaanichHeatPumpFinancing.ca or 1 (866) 381-9995.


Thank you to the Federation of Canadian Municipalities and the Real Estate Foundation of BC for their generous financial contributions that have made this program possible.