We’re excited to help you take advantage of the Canada Greener Homes Loan. If you want to make energy-efficient upgrades to your home, this interest-free loan offers up to $40,000 in funding to improve energy efficiency and reduce your utility bills. With eligible upgrades like window replacements, insulation, air sealing, and more, you can make your home more comfortable and eco-friendly.
What is the Canada Greener Homes Loan?
The Canada Greener Homes Loan is an initiative by the Government of Canada, offering homeowners interest-free loans of up to $40,000 for energy-efficient home upgrades. You can apply for this loan once you are eligible for the Canada Greener Homes Grant, which can help cover the costs of approved upgrades recommended by an energy advisor.
By participating in this program, you can reduce your carbon footprint, lower your energy costs, and enhance your home’s comfort. It’s an important step in the country’s efforts to fight climate change and transition to a low-carbon economy.
Do You Qualify for the Canada Greener Homes Loan?
To qualify for the Canada Greener Homes Loan, you must meet the following criteria:
- You must be a Canadian citizen, permanent resident, or non-permanent resident who is legally authorized to work in Canada.
- You must own the home, and it must be your primary residence.
- You have a pre-retrofit evaluation and have not yet had a post-retrofit evaluation.
- Your pre-retrofit evaluation was completed on or after April 1, 2020.
- You have not started the retrofits for which you are seeking a loan.
- You have a good credit history and are not in
- a consumer proposal
- an orderly payment of debt program
- a bankruptcy or equivalent insolvency proceeding
Is the Canada Greener Homes Loan Still Available?
Yes! The Canada Greener Homes Loan is still available, offering interest-free loans ranging from $5,000 to $40,000. The loan repayment term is 10 years, making it an affordable way to make your home more energy-efficient.
What Does the Canada Greener Homes Loan Cover?
The loan can be used to cover a variety of home upgrades that improve energy efficiency, including:
- Various insulation options like cavity wall, blown-in, and reflective insulation to help maintain temperature control.
- Sealing gaps in your home to prevent heat loss, enhancing comfort and reducing energy use.
- Upgrade to ENERGY STAR®-certified windows and doors that meet specific performance standards.
- Install a smart thermostat to optimize energy use and save on utility bills.
- High-efficiency furnaces, boilers, and heat pump water heaters to replace outdated systems.
- Investment in solar panels, wind turbines, and geothermal systems for a more sustainable energy solution.
How to Apply for the Canada Greener Homes Loan
To be eligible for the loan, you first need to apply for the Canada Greener Homes Grant and have an energy advisor recommend eligible upgrades.
- Apply for the Canada Greener Homes Grant. To be eligible for the loan, you first need to apply for the Canada Greener Homes Grant and have an energy advisor recommend eligible upgrades.
- Get a pre-retrofit EnerGuide evaluation. A home energy audit will assess your current home energy efficiency and help identify necessary upgrades.
- Plan and get quotes. Based on the evaluation, choose which upgrades you want to pursue, then get quotes from contractors.
- Submit your application. Complete the application with all necessary documents, including the EnerGuide evaluation, contractor quotes, and proof of income.
- Complete the retrofits. Start your energy-efficient upgrades and keep receipts for all costs related to the project.
- Schedule a post-retrofit EnerGuide evaluation. After completing the work, another evaluation will verify the energy savings.
- Receive your loan. Once the post-retrofit evaluation is complete, the loan amount will be deposited into your account.
- Begin loan repayments. Repay your loan over 10 years, with no interest charges, starting one year after the final evaluation.
How Can the Canada Greener Homes Loan Help?
By improving the energy efficiency of your home, you can significantly reduce your monthly energy bills. Whether it’s installing energy-efficient windows, upgrading insulation, or adding solar panels, the Canada Greener Homes Loan can help make these improvements more affordable. Not only will you save money, but you’ll also reduce your carbon footprint and contribute to a more sustainable future for Canada.
If you’re interested in making energy-efficient upgrades, including window replacements, Window Seal West is here to help. We offer a range of ENERGY STAR®-certified windows designed to improve your home’s efficiency.
Contact our experts today to learn more about how our products can benefit your home.
