The fall federal economic statement introduced additional funding for the popular Canada Greener Homes Loan. Canada’s 0% federal loan welcomed $600 million more to its pool of available funds for homeowners who are looking to install solar panels or other sustainable upgrades.
The Canada Greener Homes Loan was introduced in 2022 as part of Canada’s greener homes initiative, promoting energy efficient upgrades that lower emissions while saving homeowners money. The loan offers up to $40,000 at 0% interest on a 10 year term.
The launch of the program encouraged many Canadian homeowners to move forward with energy upgrades, such as solar, without the burden of large upfront costs. Nearly 100,000 homes have already been approved for the loan, proving Canadian’s enthusiasm towards sustainable home retrofits.
The additional fund is expected to help up to 24,000 more Canadians with renovations. It’s also an ongoing commitment that the government is making to transition the country to net 0 emissions by 2050.
Supporting programs like the Canada Greener Homes Loan that promotes accessibility for upgrades like solar, is an important investment in our planet’s future. We’re thrilled to see Canadians working together to build a country powered by renewable energy—and it’s an honour to be part of so many Canadian homeowner’s journeys.
While the extra funding is a fantastic development, it’s essential to stress that the loan is going out fast. If you want to take advantage of the additional funds, we recommend starting your home upgrade as soon as possible.
Polaron has helped over 12,000 Canadian homeowners complete energy efficient solar installations. We have the experience and knowledge to ensure you maximize savings with the loan and any other available rebates in your province.
