Incentives Update
The Greener Homes Grant Has Ended But The Loan Was Still Available In May 2024
A May 2024 update: the grant was gone, but the interest-free Greener Homes Loan could still finance a solar system.
A May 2024 update: the grant was gone, but the interest-free Greener Homes Loan could still finance a solar system.
Watch on YouTube: The Greener Homes Grant Has Ended But Loan Still Available - May 2024 · Published May 6, 2024 · Subscribe to Terawatt Solar
By May 2024 the Greener Homes Grant had ended, but Canadian homeowners could still apply for the Greener Homes Loan to pay for a solar system. The loan was interest free and repaid over 10 years, which meant the monthly cost of a system could be close to what a household was already paying for electricity.
Interest is a significant part of the cost of financing any large purchase. Removing it makes the effective price of solar noticeably lower and brings payback forward. That is why the loan stayed popular after the grant disappeared.
Programs like this are time limited and their rules change, so treat this post as a record of May 2024 rather than a current offer. Check the incentives page for what applies now.
Terawatt Solar offers in-house financing options, and Toronto residents can also look at the City's Home Energy Loan Program. Ask us which route fits your numbers best.
