This post aims to highlight the different resources available to Canadians in general (more specifically residents living in PEI). Gomex Engineering is familiar with these financing programs and will gladly work with you to help apply and fund any deep energy retrofit project we design, so you can rest assured you are accessing any and all available funding that you are eligible for.
In Canada:
The Canadian government recently announced the Canada Greener Homes Loan program with interest free loans up to $40k.
There are a few eligibility requirements to meet before applying for the loan:
You must apply and be eligible for the Canada Greener Homes Grant or provincial program for Nova Scotia and Quebec
You must be a Canadian homeowner and your home must be your primary residence
You have completed pre-retrofit evaluation of your home dated April 01, 2020 or later
You have a good credit history and aren’t under:
a consumer proposal
an orderly payment of debt program
a bankruptcy or equivalent insolvency proceeding
The Canada Greener Homes Grant is a pre-requisite for the loan mentioned above but also offers grant funding up to $5600. up to $600 to as a maximum contribution towards the total costs of your pre and post retrofit EnerGuide home evaluations. Up to $5000 to get a part of your costs back for eligible home retrofits.
Click the link above to check eligibility.
In Prince Edward Island:
efficiencyPEI provides programs, rebates and information for Islanders who are interested in reducing their day to day energy consumption. If you are building a new home or planning upgrades to your existing home, efficiencyPEI can give you general advice on what energy saving upgrades you should be considering.
In Charlottetown, PEI:
The City of Charlottetown has received funding from the Federation of Canadian Municipalities to offer homeowners PACE (Property Assessed Clean Energy) loans for home energy upgrades. This funding is currently offered through the Switch Charlottetown program at 0% interest. The increasing uptake of this program makes it difficult to predict when government funds will be fully allocated to upgrade projects. As of today (May 31st), our best estimate is that funding at this interest rate will remain available for 8-10 months.
Click the link above to check eligibility.
In Stratford, PEI:
The Program is currently not open for the intake of new homeowner projects. Other financing options are being investigated. Please check back for further updates to the program.
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