Energy Manager

Manitoba Hydro debuts PAYS Financing for energy efficiency

November 20, 2012 - Manitoba Hydro wants to help make energy efficiency accessible to more Manitoba homeowners and tenants who rent a home.

November 20, 2012  By  Alyssa Dalton

The utility has introduced Power Smart Pay As You Save (PAYS) Financing program, which using on-bill financing, provides residential customers with an option for completing energy efficient upgrades to their homes while keeping upfront costs and future monthly finance payments as small as possible.

To accomplish this, PAYS Financing allows a customer to use their estimated annual utility savings gained from installing energy efficient measures, such as a high-efficiency furnace or attic insulation, to pay for those measures. There is no increase in bill payments because the monthly payment for funds borrowed from Manitoba Hydro must be less than the estimated annual utility bill savings averaged out on a monthly basis.

“Manitoba Hydro’s new Pay As You Save program is the first of its kind in Canada. With huge upfront costs gone, more families will be able to make smart, energy efficiency improvements to their homes and save money each month,” said premier Greg Selinger. “Together, we’re putting efficiency upgrades to heating, insulation and home water heating within the reach of more families.”

PAYS Financing is unique compared to other Manitoba Hydro financing options because it is tied to the property, allowing a customer to transfer their financing to the next homeowner or tenant renting their property. The owner of the property must have a tenant’s consent to apply the PAYS monthly payment to their utility bill.


Manitoba Hydro said the PAYS Financing program is its response to The Energy Savings Act enacted by the Province of Manitoba in June to encourage energy and water efficiency upgrades of existing homes and buildings.

The program covers upgrades to the following product categories:
• Residential space heating equipment;
• Insulation; and
• Residential water heating and conservation, including drain water heat recovery systems and toilets (in conjunction with one of the above energy efficient measure).

“Manitoba Hydro has long been a leader in providing financing for energy efficiency on our customer bills,” said Scott Thomson, Manitoba Hydro’s president and CEO. “Our Power Smart Residential Loan Program has already been recognized as the most successful on-bill finance plan in North America. The new PAYS Financing Program further extends the reach of our financing options and expands the number of customers we can help get the most from their energy.”

Customers, working with a contractor who must apply on their behalf, can use the PAYS Online Calculator at to calculate the amount that can be borrowed from Manitoba Hydro.

PAYS Financing is not available for unoccupied homes, seasonal homes (cottages), apartment buildings, or new homes under construction.

CLICK HERE for more information on the program.

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