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The Canadian Government introduces the “Canada Greener Homes Loan,” offering 0% financing (up to $40,000) to Canadian homeowners looking to upgrade their homes’ energy efficiency by installing solar panels and other energy-efficient items.

Canada’s Greener Homes Loan-Get 0% Financing For Solar Panel Installations

On June 17, 2022, the Federal Government of Canada launched the “Canada Greener Homes Loan Initiative,” offering 0% financing in addition to a $5,000 grant, which you can receive by way of the Canada Greener Homes Grant


When it comes to investing in a solar panel system for your home, the Canada Greener Homes Loan Initiative is the perfect alternative to traditional financing. This new initiative allows Canadian residents to apply through the Canada Greener Homes Grant for interest-free financing, which makes the transition to renewable energy sources easier and faster. Not to mention, due to an increase in demand, the residents of Ontario are urged to adopt new sources of renewable energy, such as solar power, to power their homes, reduce their energy consumption, and cut down on costs.


Eligible homeowners can apply for and receive up to a $40,000 loan per household with 0% financing for 10 years towards energy-efficient upgrades such as solar panel system installations to their primary residences. That being said, investing in solar PV systems, which can improve your home’s energy efficiency and save you money on your electricity bills, has never been easier or more economical for Ontario residents.


Moreover, in this article, we will help you gain a greater understanding of how the Canada Greener Homes Loan Initiative works and how it can benefit you and your family. Furthermore, you will learn how to apply for and take full advantage of the various financing options that are available to you through this new initiative. Please continue reading for more information.


Within this guide you will find information on the following:


  1. About The Canada Greener Homes Loan Initiative
  2. The Importance of Solar Generation in Canada 
    • Loan Details
    • Eligibility
    • How to Apply
  3. Conclusion: Ready to Get Started?


IMPORTANT NOTE: SolarUp assists all clients throughout the application process for both pre and post-EnerGuide evaluations. This makes applying for grants or loans for energy-efficient upgrades to your home by way of the Canada Greener Home Initiative easy and carefree.

The Canada Greener Homes Loan Initiative

The aim of this new initiative is to provide 175,000 households across the country with $4.4 billion in interest-free loans to help homeowners complete some of the more major retrofits recommended by their energy advisor. 


What is more, this is a new element to the Canada Greener Homes Grant Initiative, which began back in May 2021 and initially gave grants ranging from $125-$5,000 to homeowners undertaking eco-friendly retrofits. 


Though, as of June 17, 2022, the Canada Greener Homes Loan Initiative will now grant loans ranging from $5,000 to $40,000 per home with repayment terms of up to 10 years to qualifying homeowners for significant green retrofits, such as:


  1. Solar Panel Systems
  2. Renewable Energy
  3. Resiliency Measures
  4. Home Insulation
  5. Windows & Doors
  6. Air Sealing
  7. Space & Water Heating
  8. Thermostats


*For more information on qualifying home energy-efficiency improvements, please refer to the Canada Greener Homes Loan eligible products and installations website.


Currently, this new initiative is open to eligible applicants who are planning qualifying green upgrades to their property and active applicants at the pre-retrofit EnerGuide evaluation stage through the Canada Greener Homes Grant. 


However, come August 31, 2022, eligibility will be expanded to include homeowners who have previously received a grant or requested a post-retrofit EnerGuide review through the Canada Greener Homes Grant, and wish to apply for any remaining eligible retrofits that they intend to pursue but have not yet begun.


That being said, this new initiative was designed to make rooftop solar panels, battery storage, and a variety of other low-carbon technologies more affordable for Canadian homeowners to invest in. To that end, one can easily see why this new initiative is so important to Canada’s renewable energy sector and its residents. Moreover, please note that before applying for the Canada Greener Homes Loan, be sure to read through and fully understand all of the loan details and eligibility requirements for this new initiative.


The Importance of Solar Generation in Canada

In today’s economy the Federal Government of Canada has worked to support green initiatives to help Canadians improve the energy efficiency and comfort of their homes by way of the Canada Homes Greener Loan Initiative. Considering that, the cost of traditional sources of energy has risen by over 50% in the last 8 years and will likely continue to rise by 6-7% per year. Not to mention, that after years of declining consumption, the Province of Ontario has entered into a period of increasing electricity demand, resulting in a limited supply of resources. 

To that end, the Federal Government of Canada urges its residents to adopt new sources of renewable energy, such as solar power, to power their homes and reduce their energy consumption. Seeing as Ontario has the fifth-highest potential for solar energy production in Canada. New methods of self-generation from solar power are a key component in cutting back on future hydro costs and meeting the province’s increasing electricity demand.

Moreover, by assisting Canadians in making their houses more energy efficient, the Government of Canada is making it simpler for individuals to cut their energy costs and make their lives more affordable. This will reduce pollution, generate employment and development, and pave the way for a cleaner future for all Canadians. After all, climate action starts at home!

Loan Details

Maximum Amount: $40,000

Minimum Amount: $5,000

Repayment Term: 10-year, interest-free

Loan Type: Unsecured Personal Loan with Approved Credit


As stated earlier, the Canada Greener Homes Loan assists Canadians in making their homes more energy efficient and comfortable, while saving them money. That being said, the loan is available in conjunction with the Canada Greener Homes Grant as part of the Canada Greener Homes Initiative, which aims to assist Canadian homeowners across the country in reducing their energy consumption.


What’s more, this is an unsecured personal loan on approved credit with a 10-year interest-free payback period. For which, there is a maximum of one loan available per eligible property and homeowner. That being said, upon applying for the loan, you will be asked to provide financial details to establish your ability to repay the loan.


NOTE: Grants and loans are not accessible to landlords, renters, or anybody who has already begun or finished their retrofit. Additionally, homes built within the last six months are also ineligible for the loan.


In order to benefit from up to $40,000 from the Canada Greener Homes Loan, There Are A Few Eligibility Requirements that must be met prior to applying.

Those are as follows:


  1. You must apply for and be eligible for the Canada Greener Homes Grant.
  2. You must be a Canadian homeowner, and your principal residence must be in Canada and must be one of the following:
    • single or semi-detached house.
    • row or townhouse
    • mixed-use building
    •  all-season cottages
    • mobile home on a permanent foundation
    • A permanently moored floating home
    • small multi-unit residential building of (3 stories or less with a 600m2 or less) *
    • Residential portions of mixed-use buildings (except multi-unit residential buildings over 3 stories or over 600 m2 in footprint)*
  3. You have completed a pre-retrofit evaluation of your home on or after April 1, 2020.
  4. You have a solid credit history and are not in the following situations:
    • A consumer proposal
    • Orderly Payment of debt program
    • A bankruptcy or equivalent insolvency proceeding.


PLEASE NOTE: If you have already begun or completed retrofits to your home, you will not be eligible for the loan. The same is true if your retrofit was not advised by an energy adviser. Further eligibility details can be found online.

How to Apply

The Canada Greener Homes Loan Initiative is the perfect solution for homeowners looking to invest in residential solar power systems for their homes. By way of allowing residents of Ontario to apply through the Canada Greener Homes Grant for interest free financing on eligible energy-efficient upgrades. To learn more about how to get your application started, follow the 8 easy steps for applying listed below.


NOTE: SolarUp assists our clients who want to apply for a loan or grant through the Canada Greener Homes Initiative as part of our services. We will work to facilitate the whole application process for you.

8 Easy Steps for Applying for the Canada Greener Homes Loan:

Step 1: Apply to the Canada Greener Homes Grant

The first step in applying for the Canada Greener Homes Loan Initiative is to check your eligibility, after which you can move on to completing and submitting your application for the Canada Greener Homes Grant. Considering that, in order to qualify for the loan portion of this initiative, you need to verify that you are eligible for the grant portion first.

Step 2: Receive a Pre-Retrofit EnerGuide Evaluation

After submitting your application to the Canada Greener Homes Grant, you will need to book a pre-retrofit EnerGuide evaluation. At which point, you will be contacted by a service organization to arrange for an EnerGuide pre-retrofit evaluation of your house with an energy advisor, certified by Natural Resources Canada. From there, they will assess your home and make recommendations on how to make it more energy-efficient and climate change resistant

Step 3: Plan Your Retrofits and Obtain Contractor Quotes.

Once your EnerGuide evaluation has concluded, you will need to review the recommendations listed in the report and determine which retrofit best suits your budget and renovation expectations. Ensure you plan your retrofits in advance. At this stage in the application process, it’s best to obtain 1-3 contractor quotes for each retrofit you intend to pursue. It’s important to note that you cannot obtain additional funding if you decide to take on additional retrofits later.

Step 4: Fill Out and Submit a Loan Application Through Canada Greener Homes Grant Account

Once your retrofits have been planned efficiently, the next step will be to login to your Canada Greener Homes Grant account and access the loan portal to submit your loan application! At which point, you will be required to upload specific documentation to the loan portal (property tax statement, driver’s license or other government-issued ID together with a utility bill, confirmation of income and employment, contractor quotes). After that, you will receive a calculated loan amount offer, which can be activated upon choosing to accept the loan agreement you were presented with.

Step 5: Finish Your Retrofits and Retain All Receipts and Invoices

At this point in the application process, you can begin to work on the intended retrofits for your home. Just remember that during this time you should keep copies of all your receipts and invoices pertaining to the completed work.

Step 6: Receive an EnerGuide Post-Retrofit Evaluation

After your retrofits have been completed, you will then be required to contact your service organization and request a Post-Retrofit EnerGuide evaluation. From here, an Energy Advisor will assess the effect of your upgrades and provide you with an updated EnerGuide label as well as a new report estimating how much you can receive in grant funding.

Step 7: Receive Your Loan Amount $$$

Once your Post-Retrofit EnerGuide evaluation has concluded, the Energy Adviser will have updated the grant portal with information about your final evaluation, including an estimate of your final grant amount. At which point, you will need to upload all final invoices and receipts to the grant portal and receipts for the retrofits to the loan portal. Your loan amount will be reviewed once again based on the actual cost of the completed retrofits. Wherein, less the recommended grant amount, and your final approved loan amount will be deposited into your bank account (minus the initial down payment, if you received one) within 10 days’ time.

Step 8: Repay Your Loan Gradually

Finally, once your loan has been approved, you will be sent detailed information outlining the repayment terms of your loan over the 10-year interest-free period. From there, you can begin to gradually make payments to pay off your debt.


IMPORTANT NOTE: For those interested in installing a residential solar panel system on their property in Ontario, SolarUp can assist you with all the application procedures. From permitting, regulatory, and financing applications through to the purchase and installation of your residential solar system, we handle it all! 


Obtaining the solar financing you require to upgrade your home is much simpler. Contact the highly qualified specialists at SolarUp today for additional information or assistance with the purchase, installation, or grant/loan application process of a solar PV system today!


Ready to Get Started?

With the implementation of solar panels, Ontario residents have been able to save an average of $1,000 per year on their hydro bills. Considering that solar installations, whether on the roof of your home or commercial property, provide a clean, financially beneficial power source with considerable savings compared to current utility prices. With help from the trained professionals at SolarUp, learn more about how these technologies will assist Canadian households in lowering their electricity costs and making their homes more resistant to harsh weather events.


For all your solar power financing needs, contact us today. We make applying for the Federal Government of Canada’s Canada Greener Homes Loan Initiative simple and worry-free. Let us assist you in getting the financial assistance you need to improve your home’s energy efficiency and, as a result, make your home more comfortable while saving you money.