Canada Greener Homes Loan: Making Solar More Accessible

November 18, 2022


Solar panel energy is a highly regarded renewable energy source with several advantages. It is a clean, renewable energy source that has the potential to minimize carbon emissions. Solar panel prices have dropped dramatically recently, making them more affordable than ever.

With the Canada Greener Homes Loan Program, solar panels are now even more affordable, so you can benefit from the advantages of clean energy in your home. As top-rated solar panel installers, we’ll give you all the necessary information so that you can benefit from this loan. Keep reading to find out more about it.

Canada Greener Homes Loan Program

The Canada Greener Homes Loan is a 10-year interest-free financing option accessible to all Canadians who wish to make their homes more energy efficient and finance a solar panel installation. It’s a part of a larger Canada Greener Homes Initiative that allows Canadian homeowners to save up to $5,000 on energy-efficient house renovations.

The loan is an unsecured personal loan with approved credit for projects supported by the Canadian government. The Canada Greener Homes Loan is an excellent loan option for installing a solar panel system. There is no need for you to submit collateral security for the loan. The solar panel financing has a 10-year term with 0% interest!

Eligibility Criteria

Before applying, make sure you are eligible for the Canada Greener Homes Loan. Here is a list of prerequisites you must satisfy before applying:

  • You must apply for and qualify for the Canada Greener Homes Grant
  • You must be a Canadian resident
  • Your primary residence must be your home
  • You have completed a pre-retrofit evaluation of your house
  • You don’t fall under any of the following and have a good credit history:
    • a consumer proposal
    • orderly payment of debt program
    • a bankruptcy or equivalent insolvency proceeding

Moreover, this financing does not cover the following projects:

  • A job that you have already started or completed
  • Retrofits that were not advised by an energy advisor
  • Retrofits are ineligible for the Canada Greener Homes Grant
  • Retrofits that are not part of your application

Also Read: Factors That Affect Solar Panel Installation Costs

How Do I Apply For A Loan For Canada’s Greener Homes Grant?

To apply for the Canada Greener Gomes Loan, follow these steps advised by Natural Resources Canada.

Apply To The Canada Greener Homes Grant

Check your eligibility and apply for the Canada Greener Homes Grant. You must be eligible for the grant to apply for the loan.

Get A Pre-Retrofit Energuide Evaluation

A service organization will contact you to arrange for an energy expert to do a pre-retrofit EnerGuide examination of your house. They will assess your home and advise you on how you can make it more energy efficient and climate change resistant.

Plan Your Retrofits And Get Quotes From Contractors

Examine the report’s recommendations and determine which retrofits are most appropriate for your budget and restoration plans. Consult with contractors for each retrofit in your plan.

Submit An Application For The Loan

Log in to your Canada Greener Homes Grant account and upload the necessary documentation to your portal.

Finish The Retrofits And Keep The Receipts And Invoices

Start your job and retain copies of receipts and invoices along the way.

Get A Post-Retrofit Energuide Evaluation

After you’ve completed your energy-efficient home retrofits, request a Post-Retrofit EnerGuide rating. An energy advisor will evaluate the impact of your modifications. In addition, your energy adviser will present you with an updated EnerGuide label.

Receive Your Loan Amount

The final authorized loan amount will be paid into your bank account within 10 days as long as the information given stays the same. If the actual expenses are lower than predicted, the loan amount will be reduced. However, the loan amount will stay the same if the actual cost estimations are greater.

For more detailed information about the application process, check out this Green Homes Loan page.

About Sundawg Solar

Sundawg Solar is a Saskatchewan-based company that provides clean, renewable energy. We offer many solar power solutions, including off-grid solar power systems. We are deeply committed to keeping the environment clean and preserving it for future generations. We are happy to have served the industry for 40 years and are committed to continuing doing so.

Are you interested in a chance to get a $40,000 loan? Contact us today to get a solar panel quote and partake in the Greener Homes Loan.