When the Canada Greener Homes Loan officially ended, many Canadians wondered if they would need to pause their solar projects. While the interest-free loan was attractive and offered benefits on paper, the reality was that long wait times, audit fees, and paperwork often delayed projects in some areas.
The good news? Solar energy remains accessible. There are still flexible, quick, and affordable options to finance your clean energy future, and Riverside Energy Systems is ready to guide you through them.
Home Equity Line of Credit (HELOC)
A HELOC is a popular and affordable way to finance solar installations, utilizing your home's equity to fund the project at a lower interest rate than most personal loans.
Leading lenders, including RBC, TD, Scotiabank, and Vancity, all offer eco-friendly financing for home energy upgrades, with rates typically ranging from 4% to 5%. In some cases, they also offer rebates for adopting green practices.
Why do homeowners appreciate it:
- Fast approval and flexible repayment
- Lower interest rates than personal loans
- Access to funds when you need them
Mortgage-Based Financing
If you’re building a new home or refinancing an existing mortgage, this is an excellent time to include solar. Many banks offer green mortgage programs that reward energy-efficient upgrades with lower interest rates or cashback incentives.
Some examples include:
- RBC Energy Saver Loan – offers potential rebates for energy-efficient home improvements
- TD Green Banking Solutions – provides competitive rates for renewable installations
- Scotiabank Go Green Program – supports energy-saving renovations through mortgage top-ups
- Vancity Planet-Wise Renovation Loan – available for both residential and commercial clients
By financing through your mortgage, you spread your investment over time, enjoy low monthly payments, and add lasting value to your property.
Cash Payments
If you’re ready to invest upfront, cash payments are the simplest option. There are no approvals, no waiting periods, and no interest. Paying with cash can also get you a discount on your total project cost, since it simplifies the process for both you and our installation team.
Once we receive your deposit, we can move straight to scheduling your installation.
Why the End of the Greener Homes Loan Is Just the Beginning
Although the federal Greener Homes Loan has wrapped up, your clean energy journey doesn’t have to. In fact, this marks the start of a more streamlined, locally supported era of green financing.
At Riverside Energy Systems, we’ve been helping British Columbians transition to solar power for over 30 years. From navigating financing to designing your custom system, our team ensures the process is smooth, transparent, and aligned with your energy goals.
Our team is ready to help you design a solar solution tailored to your home, goals, and budget.
Ready to Take the Next Step?
Contact our team today, let’s find the financing option that brings your solar goals to life, one that’s affordable, flexible, and built around you.
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