Shift has some exciting news to share! Your dream of an energy efficient home is now more real than ever!
The Canadian government has now opened applications for the Greener Homes Loan. This is phase 2 of their Green Homes Program. Available to you is an up to $40,000 interest-free loan with a 10-year repayment term, in addition to the greener homes grant, to help you complete some of the major retrofits recommended to you by your energy advisor. Yes, that includes a Solar PV Installation! Homeowners can also stack funding from multiple programs, which means you can access the $5000 Federal Clean energy rebate as well.
Some of the basic program details:
The Canada Greener Homes Loan helps Canadians make their homes more energy efficient and comfortable. It offers interest-free financing in addition to the Canada Greener Homes Grant to help you complete some of the more major retrofits recommended by your energy advisor.
Loan details
Maximum: $40,000
Minimum: $5,000
Repayment term: 10 years, interest-free
Loan type: Unsecured personal loan on approved credit
Eligibility
June 17, 2022 – The Canada Greener Homes Loan is now open to:
- Eligible applicants who are applying to Canada Greener Homes Grant.
- Active applicants at the pre-retrofit EnerGuide evaluation stage with the Canada Greener Homes Grant.
By August 31, 2022, The Canada Greener Homes Loan will open to:
Homeowners who have already received a grant or requested a post-retrofit EnerGuide evaluation under the Canada Greener Homes Grant and want to apply for any remaining eligible retrofits they are interested in pursuing and have not yet commenced.
There are a few eligibility requirements to meet before applying for the loan:
- You must apply and be eligible for the Canada Greener Homes Grant or provincial program for Nova Scotia and Quebec
- You must be a Canadian homeowner and your home must be your primary residence
- You have completed pre-retrofit evaluation of your home dated April 01, 2020 or later
- You have a good credit history and aren’t under:
- a consumer proposal
- an orderly payment of debt program
- a bankruptcy or equivalent insolvency proceeding
For more details, visit the Canadian Government Greener Homes Program website.
Want to get started?
Our team of energy efficiency and solar experts are here to help you at any time to answer any questions you may have about this program or solar. Reach out to us today.