Update Oct 1, 2025 – The Greener Homes Loan has now ended. For a current list of federal, provincial and municipal incentives please click here.
Canada’s Greener Homes Solar Loan, which provides homeowners with up $40,000 interest free to install solar panels, will have $600 million added to it.
The December 2024 Federal Economic Statement announced that the Canada Greener Homes Loan Program will deliver an additional $600 million in interest free loans to allow 15,000 – 24,000 more homeowners to reduce their energy costs. This investment is estimated to cost $174.4 million over six years, starting in 2024-25.
The announcement comes just in time as rumors were beginning to surface that the loan would suffer the same fate as the Greener Homes Grant that ended abruptly in February 2024. The additional funding and clear communication is a welcome change for homeowners and businesses that are affected by these unpredictable incentive programs.
The announcement also alludes to an additional $800 million that is earmarked for the Canada Greener Homes Affordability Program which will fund energy efficiency retrofits for low- to median-income households. No timeline on the commencement of this program was provided.
The original announcement can be found here on page 87.
A word of caution
While the Greener Homes Loan does not require that homeowners get multiple solar quotes, we highly recommend it. The solar “gold rush” created by these incentive programs has led to many unethical companies employing high pressure sales tactics, lying about how these incentive programs work for their benefit and price gouging homeowners. If you plan to take advantage of the greener homes loan and install solar panels on your home, please be sure to get multiple quotes from reputable local companies. This is the only way to ensure you are getting a quality solar panel installation at a fair price.
You may also choose to use a broker, like Glean, to solicit multiple quotes on your behalf from vetted installers and provide unbiased advice so you can be sure you are making the right decision.