Canada Greener Homes Loan and Oil to Heat Pump Affordability Program

The Canada Greener Homes Grant might be closed for new applications, but you haven’t completely missed out yet!

The Canada Greener Homes Loan and the Oil to Heat Pump Affordability program are still up and running.

Now, about that loan – it’s a helping hand for Canadians looking to make their homes cozier and more energy-efficient. You can use it to fund retrofits recommended by an energy advisor, but make sure you apply before starting any work. Otherwise, you won’t be eligible.

Canada Greener Homes Loan

  • You can get up to $40,000, but the minimum is $5,000.
  • It’s interest-free for 10 years and is an unsecured personal loan, pending credit approval.
  • You can only get one loan per property and homeowner. This means that for a particular property and homeowner, only one loan can be obtained.
  • The loan amount depends on the retrofits you choose and the quotes you get. If the loan amount is less than what you’re quoted for the work, you’ll have to fill in the gap.

The top five retrofits across Canada are Heat pumps, Windows and doors, Home insulation, Air sealing, and Solar Panels. Eligible retrofits and grant amounts are listed on this link

Once you’re approved, you might get some cash upfront to cover contractor deposits. The rest comes after the retrofits are done and checked.

Oh, and a heads up – some things won’t qualify for the loan, such as work that’s already started or not recommended in your pre-retrofit evaluation.

Now, are you eligible? Well, you have to be a Canadian citizen or resident, and your home has to be your main residence. Plus, you need a pre-retrofit evaluation done after April 1, 2020, and no post-retrofit assessment yet. And keep your credit history clean, with no bankruptcies or debt programs.

Steps to Apply:

  1. Set up a meeting for a pre-retrofit evaluation with a designated service organization.
  2. Figure out what changes you want to make and get some price estimates from contractors that match the recommendations from the pre-retrofit evaluation.
  3. Fill out the loan application online, with all the required info, like details from the check-up, your ID, property papers, proof of income, and the quotes from the contractors.

There are extra rules for multi-unit buildings and Indigenous groups, and if you’re in a northern or off-grid spot, you might be in luck with extra perks.

Thinking of applying? Here are some tips:

  • Fill out everything correctly and completely to speed things up.
  • Hold off on any work until you apply – otherwise, it won’t count.
  • Make sure you provide all the required documents needed to avoid delays.
  • List all the retrofits you plan to do because you can’t add more later.
  • Get clear quotes from contractors.
  • If you need cash upfront, ask during your application.

To apply, first, get the pre-retrofit evaluation completed. Then plan your retrofits and get those quotes. Finally, send in your application with all the documents they ask for.

If you need help, there are support lines you can call. And if you’re in a northern or off-grid area, check out the special guidelines.

Click this LINK for more information on the Greener Homes Loan

Oil To Heat Affordability Program

Do you have an oil heating system at home? And do you have a net income that’s about average or less in Canada? Well, if you said “yes” to both, you might be in luck!

The Oil to Heat Pump Affordability program makes it easier for people to switch from oil heating to new, energy-efficient heat pumps. 

So, what is the program?

  • You could get up to $10,000 pretty much anywhere in Canada to help cover the cost of getting and installing a new heat pump. You could also use that money for things like electrical and mechanical upgrades, removing your old oil tank, or even setting up a backup electric heating system if you need it.
  • They’ve made it easier to qualify for this cash benefit. You used to need proof of buying 1000 liters of oil, but now, you only need 500 liters. And they’ve added more types of heat pumps to the list of what’s eligible, so there’s more choice.
  • You can get the money upfront, which means you don’t have to pay out your own money first. 

Ready to make the switch and save some serious money on your heating bills? Check out your province’s program webpage for all the details and how to apply!

Thanks for helping make our homes greener and more energy-efficient

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