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The Canada Greener Homes Loan is still accepting applications, and now’s the perfect time to take steps on securing your spot. Funds are still available for new approvals like yours, but with steady interest from homeowners across the country, it’s a smart time to move forward your application.
If you’ve been considering solar for your home, we encourage you to dive in now to take advantage of this funding opportunity. The Canada Greener Homes Loan is a great way to go solar sooner, which means fast tracking your energy savings. It offers up to $40,000 in loan funding, free of interest with a 10-year payback window. So far, the program has helped over 115,000 Canadian households invest in upgrades like solar panels and battery storage since its launch in 2022. Since then, many of Roost Solar’s customers have benefitted from this loan, powering their homes while also being financially empowered to do so — especially when combined with current BC Hydro rebates.
Industry updates show that, while a large portion of the program’s funding has already been spoken for, some loan funds are still available for the time being. That means there’s still room for new applicants — and we can help you be one of them. In the past, the government has topped up the loan program’s budget to meet demand. Most recently, a $600m top-up in June — over 25% of which was consumed within one month.
A recent report from industry leaders states: “This is a first‑come, first‑served program: once the fund hits zero, applications will be closed. It is possible that additional funding will be provided in the upcoming budget bill, but this is not guaranteed, and the federal government is actively looking to cut spending. Solar installers work with customers for weeks or months to develop proposals and designs. Funding uncertainty can be disruptive to this relatively long sales cycle.”
It’s not clear whether or not the loan program will continue to be funded. Meanwhile, the federal focus is shifting toward the new Greener Homes Affordability Program, and political impacts on the federal budget persist. This presents the possibility of change for how funding is allocated to the Greener Homes Loan in the future.
Applications for this loan move steadily, with thousands being processed each month. So, without word of additional funding, it’s wise to start the estimate process and get the ball rolling on your loan application. Getting started soon will help ensure you can take advantage of the program while it’s available.
At Roost Solar, we aim to make the loan application process as smooth and stress-free as possible, guiding you through each step so you can focus on the exciting part — powering your home with clean, renewable energy.
Explore how the Canada Greener Homes Loan could help bring your solar project to life — we’d be happy to walk you through it. Reach out today for a free, no-obligation estimate and move one step closer to experiencing the many benefits of a solar powered home.
