Canada Greener Homes Loan: Your Path to Energy Efficiency
Looking to make your home more energy-efficient and sustainable? The Canada Greener Homes Loan offers Canadian homeowners interest-free financing of up to $40,000 to support eligible retrofits that improve energy efficiency and comfort.
Program Overview
The Canada Greener Homes Loan is part of the Canada Greener Homes Initiative, designed to help homeowners reduce energy consumption and lower utility costs. With a repayment term of up to 10 years, this unsecured personal loan makes it easier to invest in sustainable upgrades without financial strain.
Loan Details
- Maximum Loan Amount: $40,000
- Minimum Loan Amount: $5,000
- Repayment Term: 10 years, interest-free
- Eligibility: One loan per eligible property and homeowner
Eligibility Criteria
- Be a Canadian citizen, permanent resident, or non-permanent resident authorized to work in Canada.
- Own the home as their primary residence.
- Have completed a pre-retrofit evaluation on or after April 1, 2020.
- Not have started any retrofit work prior to submitting the loan application.
- Maintain a good credit history without active bankruptcy or insolvency proceedings.
Application Process
- Pre-Retrofit Evaluation: Schedule an evaluation with an NRCan-approved energy advisor to identify eligible retrofits.
- Plan Retrofits: Obtain detailed quotes from contractors for all planned work. DIY retrofits must include itemized material costs (labour costs are not eligible).
- Submit Application: Provide required documentation, including ID, property tax bill, proof of income/employment, and contractor quotes via the online portal.
- Complete Retrofits: Proceed with approved retrofits while keeping receipts and invoices for all expenses.
- Post-Retrofit Evaluation: Schedule a follow-up assessment with your service organization to verify completed work.
- Request Final Loan Advance: Upload final invoices and request funding through the portal. Funds will be deposited within approximately 10 days of approval.
Eligible Retrofits
- Solar panel installations
- Insulation improvements (attic, walls, floors)
- Energy-efficient windows and doors
- Replacement of fossil-fuel burning equipment (for northern/off-grid communities)
Why Choose Oka Energy Corp?
At Oka Energy Corp, we specialize in guiding homeowners through the Canada Greener Homes Loan process. From scheduling pre-retrofit evaluations to completing solar installations and post-retrofit assessments, we ensure a seamless experience tailored to your needs.
Contact us today for a personalized consultation and take advantage of this opportunity to make your home greener and more energy-efficient! Together, we can build a sustainable future for you and your family.
