Interest-Free Solar Financing For Your Home
AboutThe Canada Greener Homes Loan offers interest-free financing to help Canadians make their homes more energy efficient and comfortable. The loan can help you finance eligible retrofits that are recommended by an energy advisor and that have not yet been started.
This program specifically supports solar panel installations, including both rooftop and ground-mounted systems, making it the perfect time to reduce or eliminate your electricity bills.
- Loan Maximum: $40,000
- Loan Minimum: $5,000
- Loan type: Unsecured personal loan on approved credit
- Repayment term: 10 years, interest-free
- Maximum of one loan per eligible property and homeowner
Understanding Your Greener Homes Loan: From Approval to Payment
HowThe Canada Greener Homes program determines your eligible loan amount based on your selected retrofits and contractor quotes, while adhering to established industry price caps. While the program offers up to $40,000 in interest-free financing, your eligible amount may be less than your actual quotes due to these standardized pricing caps. In such cases, you’ll need to cover any difference between the approved loan amount and your total project costs through other means.
Once your loan is approved, you’ll receive an initial disbursement (typically 10-30%) to cover contractor deposits and startup costs. The remaining funds are released after your retrofits are completed and verified through a post-retrofit evaluation by a certified energy advisor. This two-stage payment process ensures quality control and protects both homeowners and contractors while maintaining program integrity.
Greener Homes Loan Application Tips
tipsThe application process for your Greener Homes funding requires attention to detail to avoid delays. Submit a complete and accurate application the first time by double-checking all documentation, providing clear contractor quotes, and ensuring all required fields are properly filled out.
The maximum eligible loan amount is calculated based on the retrofits selected in the application and the quotes for this work. The eligible amount is capped based on industry standards and market norms. The maximum eligible loan amount may be less than your quoted cost, in which case, you will be responsible for funding the difference.
Before You Begin
You cannot start any work until your loan application has been submitted. Any retrofits started before submitting your application are ineligible.
We recommend that you do not start any work before your loan application has been approved. If you choose to begin your retrofits before your loan application is approved, you are responsible for all costs if your application is declined.
Quote Requirements
Greener Homes Loan applications require comprehensive quotes that detail all energy-efficient retrofits with a complete cost breakdown. For solar installations, quotes need to specify panel numbers and specifications, inverter details, mounting components, labor costs, permits, and warranties. All quotes must clearly separate eligible retrofit expenses from any additional work, as only program-eligible improvements count toward the loan amount.
Planning Your Retrofits
Documentation Guidelines
Each quote submission must demonstrate a thorough breakdown of all energy-efficient retrofit costs to ensure streamlined processing of your Greener Homes Loan application. Clear documentation helps expedite the approval process and maximizes potential funding for your home improvements.
Clients
Client Testimonial
“Very professional and great at solving any concerns or questions. Honest answers that allow you to make informed decisions and not spend money on poor performing items. The work was good quality. We will use again.”
“If we could give more than 5 stars we would. Dave was fast, reliable and did all he said he was going to do and more. We would definitly hire Greenspace Solar & Electric again and highly recommend them as well..”
“I would definetly recommend these guys for any electrical work you need! Professional, efficient, high quality service that was stress free, which for me is the most important! Had my entire basement wired and ready for inspection in a day!.”