TORONTO — Canada’s federal government has announced the launch of a new program — Canada Greener Homes — that will financially incentivize homeowners to make their properties more sustainable, including through the adoption of solar panels.
Solar X welcomes this announcement and is proud to report that homeowners can qualify for these financial incentives with the purchase of our company’s full-service solar panel procurement and installation services. More information on Solar X’s products and services can be found on our website.
The first phase of the Greener Homes program — which provides homeowners with up to $5,000 in grants and $40,000 in interest-free loans for home energy retrofits — is now live across the country.
Home energy retrofits include a wide variety of upgrades to residential properties that improve energy efficiency and resilience — such as solar panels. Through the Canada Greener Homes initiative, a repayment term of 10 years is provided for all successful applicants.
The first phase of the program is open to eligible homeowners who have been pre-approved for funding or have an open application to the Canada Greener Homes Grant. The second phase will open in early September and will broaden the program’s criteria to include homeowners who have requested post-retrofit evaluations, as well as those who have already received a grant but are still interested in having further retrofits made. For more information on individual eligibility requirements, visit the federal government’s announcement.
“This is an excellent opportunity for Canadians to make a real difference for the planet, while also benefiting themselves fiscally at a time of record unaffordability,” said Bilal Jarmakani, Managing Director of Solar X. “Our services are an easy-yet-effective way to take advantage of this new opportunity — and we hope to help thousands of homeowners do their part to make it a resounding success.”
“We are optimistic that environmentally-friendly incentives like the Greener Homes Program will have positive long-term impacts on Canada’s economy,” Jarmakani added.
The total amount of funding homeowners will receive will depend on the scale of retrofits undertaken. Those pursuing a broader variety of expensive and impactful changes will receive greater assistance, relative to those that chose a narrower investment scope.
The retrofit funding is only available for homeowners’ principal residence and is being touted as a key plank of the federal government’s commitment to fostering economic growth while reducing environmental degradation.
For more information, visit Canada Greener Homes Loan | CMHC or get in contact with your federal elected representative.