Vancity Planet-Wise Renovation Solutions Loan
Vancity Bank currently offers a prime + 0.75% loan up to $50,000 with an amortization period of up to 15 years that can be used for solar systems.
Solar City
The City of Halifax has its own version of the PACE loan called Solar City. The 10 year, 4.75% fixed interest loan is attached to the property (not you) and is automatically transferred to the new owners if you move.
Rural Electrification and Telecommunications Program (RETP)
Yukon has a “PACE” loan that can be used to fund a solar installations. However, it’s only available for property owners outside of any municipality. Funding is limited to 25% of the assessed value of the property and has a maximum of $50,000.
PACE Atlantic
PEI residents in Colchester, Stratford, Wolfville, and Charlottetown also have access to “PACE” financing for solar installations. The loan has a 0% interest rate over 15-year terms and can be up to a maximum of $40,000 or 15% of the property value. The loan has a 0% interest rate over 15-year terms and can be up to a maximum of $40,000 or 15% of the property value.
Manitoba Hydro Home Energy Efficiency Loan
Manitoba Hydro offers a loan of up to $20,000 for solar projects and is repaid through your hydro bill with a maximum term of 15-years. The full amount becomes due if you sell your home before the loan is fully repaid.