Your Guide to PEI Energy Efficiency Rebates
By The Store Team
If you're heating a home on Prince Edward Island, you already know it's not cheap. What you might not know is that efficiencyPEI has some of the most generous energy rebates in the country right now — and a lot of Islanders are leaving money on the table.
We put this guide together because we get asked about rebates almost every day at the counter. Here's what's currently available and how to take advantage of it.
Heat Pump Rebates
Mini-split air source heat pumps are the single biggest upgrade most PEI homeowners can make. They heat efficiently down to well below freezing, and they cool your house in the summer. efficiencyPEI currently offers up to $2,000 for qualifying mini-split installations — that's up from $1,200, so the program has gotten more generous. The rebate applies per unit, and most homes benefit from at least one or two heads. Talk to a qualified installer and make sure the equipment qualifies before you buy.
Insulation Rebates
This is the one that surprises people. efficiencyPEI offers up to $65 per square foot per R-value for insulation upgrades — a significant increase from the old $25 rate. That means adding insulation to your attic, walls, or basement can be heavily subsidized. If your house was built before the 1990s, there's a good chance your insulation is well below current standards. Upgrading pays for itself through lower heating bills, and the rebate makes the upfront cost much easier to swallow.
Electric Hot Water Heater Rebates
Newer to the program: rebates of up to $2,500 on qualifying electric hot water heaters, including heat pump water heaters. If your oil-fired tank is getting old, this is a great time to switch. Electric hot water heaters are cheaper to run, and heat pump models are remarkably efficient.
The Energy Efficiency Loan Program (EELP)
If the upfront cost of a retrofit is a barrier, the EELP provides low-interest financing for approved energy efficiency upgrades. You can bundle insulation, heat pumps, and other improvements into a single loan with favourable terms. It's administered through efficiencyPEI and worth looking into if you want to do a bigger project.
New Building Codes Matter Here Too
As of March 31, 2024, PEI adopted updated building codes that require minimum energy efficiency standards for all new construction, including single-family homes. If you're building new, you'll need to meet these standards anyway. If you're renovating, bringing your home closer to current code makes it more comfortable, cheaper to heat, and more valuable when it's time to sell.
Where to Start
Most rebate programs require a pre-approval or energy audit before you begin work — so don't start ripping out walls before you've applied. Here's the general process:
- Visit the efficiencyPEI website or call them to find out which programs you qualify for
- Get an energy audit if required (they'll tell you)
- Get quotes from qualified installers
- Apply for the rebate before starting work
- Complete the work, submit your receipts, and get your money back
We carry everything you need for the DIY side of energy upgrades: batt insulation, rigid foam board, spray foam kits, vapour barrier, weather stripping, and caulking. If you're not sure what you need, come in and talk to us — we'll help you figure out the right products for your project and point you in the right direction for the rebate paperwork.