By: Stephen Wilson
Great news for Canadian homeowners—Canada is offering up to $40,000 as an interest-free loan for qualifying energy upgrades.
Great news for Canadian homeowners—Canada is offering up to $40,000 as an interest-free loan for qualifying energy upgrades. Plus, it can be paired with other provincial, municipal, or utility rebates to make the decision to improve your home’s energy efficiency even smarter.
A complete energy upgrade of your home can be expensive. Spreading the cost of the renovation over its useful life can be an attractive option for homeowners looking to make significant changes. Financing lets you use your energy cost savings to pay back the loan.
The Greener Homes Loan program addresses major challenges of the past financing options in a few critical ways. Here’s a summary:
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If you plan on doing the work yourself, you can still apply for the loan. However, some energy upgrades eligible for loans must be completed by a licensed and trained professional, including:
*(eligible for northern and off-grid community residents only)
Depending on local regulations, you may be able to perform the following projects yourself:
To secure this loan, simply:
The program allows for 15% of the loan to be taken in advance, which can cover any deposits required by your contractors. The rest of the funding is available once the work is complete and verified by the post-retrofit energy audit.