Clean Energy Financing Programs Canada (Updated 2023)

Published by Rylan Urban on June 4, 2020. Last updated my Chloe McElhone on Sep 14, 2023.

There are at least 27 clean energy financing programs currently available across Canada.

All available Canadian clean energy financing programs for the residential sector are listed on this page, including private and public loans, on-bill financing, and PACE programs.

Clean energy financing programs are sorted by province and territory. Start your search by clicking on your province below:

Canada-Wide Programs

There are very few companies that offer financing for clean energy projects Canada-wide. Be sure to check your own provincial/territorial options after giving this section a quick read!

• Clean Energy Loan – Natural Resources Canada (NRCan) offers interest-free loans to Canadians through the Canada Greener Homes Loan for eligible retrofits, such as home insulation, air-sealing, and renewable energy inlcuding solar PV. Loans can be a minimum of $5,000 and up to $40,000 over a 10-year term.

Note: Canada also offers up to $5,000 through the Greener Home Grant! See the Clean Energy Incentive Page for more.

• Clean Energy Loan – The RBC Energy Saver Loan is available for RBC customers from coast-to-coast when purchasing hybrid cars, ENERGY STAR appliances, renewable energy projects, and more. You can choose between a 1% interest rate reduction or a $100 rebate on a clean energy audit with your loan.

• Mortgage Loan Rebate – If you’re using a mortgage to buy a certified green home (R-2000, ENERGY STAR, Built Green, LEED, etc), then take advantage of the 25% mortgage loan insurance rebate offered by CMHC, Sagen, and Canada Guaranty.

• Clean Energy Loan – The Canada Green Affordable Housing Program Homeowners meeting the applicable affordability criteria are eligible to receive funding for retrofits, but must first apply for funding and carry out pre-retrofit activities (such as energy audits and energy modelling studies). CMHC will fund up to 100% of eligible retrofit costs to a maximum of $170,000 per unit; forgivable loans will be either $85,000 per unit or 80% of eligible costs.

Alberta

• PACE Program – The Clean Energy Improvement Program (CEIP) is a home energy efficiency and renewable energy financing program that is paid back through an assessment on your property tax bill. The program is currently available in Canmore, Edmonton, Rocky Mountain House, Devon, and others. You can read more on the PACEAlberta website.

• Clean Energy Loan (EQUS) – EQUS currently offers its customers up to $15,000 per EQUS service to finance the cost of a solar photovoltaic system (PV).

British Columbia

• Heat Pump Loan – Both CleanBC Better Homes and FortisBC are offering heat pump loans with interest rates between 0%-1.9%, depending on pump efficiency. Amortization varies from 5-10 years.

• Clean Energy Loan (Vancouver & Area) – The Vancity Planet-Wise Renovation Solutions Loan is a prime + 0.75% up to $50,000 with an amortization period of up to 15 years. You can use the loan for insulation, space heating, ventilation, draft proofing, hot water heating, windows, doors, solar PV, and solar thermal systems. The program also offers Creditlines and Creditline mortgages (HELOC).

• On-Bill Financing (Nelson) – The City of Nelson’s On-Bill Financing Program allows homeowners to borrow up to $16,000 for energy and water efficiency upgrades. The loan is paid back through their Nelson Hydro electric bill. Loans are approved based purely on payment history and property verification – no personal income or credit information is needed!

• On-Bill Financing (Penticton) – The Penticton Home Energy Loan Program grants loans up to $10,000 to be paid back through your Penticton Electric Utility bill over a 10-year term. However, unlike in Nelson, this loan is dependent on your personal credit history.

Manitoba

• On-Bill Financing – The Home Energy Efficiency Loan can can be used for a wide variety of energy efficiency and renewable energy projects including windows, doors, and insulation, and larger projects such as geothermal pumps, PV systems, and electric vehicle (EV) chargers. The loan can be up to $7,500 to 20,000 and is repaid through your hydro bill up to a 15-year term (amount and term dependent on project type), and the full amount becomes due if you sell your home before the loan is fully repaid.

• On-Bill Financing – The Energy Finance Plan can be used to pay for certain permanent energy upgrades including air source heat pumps up to $5,000 with an interest rate of 7.7% over a 5-year term. The loan is repaid through your hydro bill, and the full amount becomes due if you sell your home before the loan is fully repaid.

New Brunswick

• Clean Energy Loan – The NBTA Credit Union is currently offering Greener Home Loans for certain energy efficiency and renewable energy home projects including windows, insulation, solar PV, and heat pumps. Current rates are being offered at prime + 1%.

Newfoundland and Labrador

• On-Bill Financing (Newfoundland Power) – The Electrical Servicing Financing Plan can be used for a wide variety of energy efficiency upgrades including insulation, thermostats, heat pumps, and service upgrades. Loans are repaid over up to 60 months through your hydro bill and can be transferred to a different account if you move.

• On-Bill Financing (NL Hydro) – NL Hydro currently offers Heat Pump and Insulation Financing which can be repaid through your hydro bill and can be transferred to a different account if you move. Rates are currently set at prime + 4%. Financing can be up to $10,000 over 60 months for repayment for a heat pump or up to $2,500 over 48 months for repayment for insulation.

Northwest Territories

• PACE Program (pending) – In 2018, the NT General Assembly amended their Cities, Towns and Villages Act to make private energy efficiency and renewable energy home projects eligible to be included in local improvement charges. This sets the regulatory foundation for a PACE program, but to date, no municipality has formed one.

• Clean Energy Loans (pending) – In 2018, the Government of NT published a 2030 Energy Strategy that plans for loans and financing to be available for energy efficiency projects by the year 2030, but so far no programs have been put in place.

Instead, the province offers a wide variety of clean energy rebates. Check them out on our Incentives & Rebates Page.

Nova Scotia

• PACE Program – The Clean Energy Financing Program is a PACE program administered by Clean Foundation for Bridgewater, Lunenburg, Digby, Barrington, Yarmouth, Amherst, Cumberland, Iverness, Cumberland, New Glasgow, Victoria, East Hants, and Chester. This loan can be used to fund a wide variety of energy efficiency and renewable energy projects for a financing period of up to 10 years. The loan is attached to your property (not you) and is automatically transferred to the new owners if you move.

• PACE Program (Halifax) – Halifax has its own PACE program called Solar City, but can only be used for solar energy projects. 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.

For more details about PACE programs in your municipality, click here.

Nunavut

• Forgivable Clean Energy Loan – The Nunavut Housing Corporation currently offers forgivable loans on various energy efficiency home upgrades including structural, heating, electrical, and plumbing upgrades. The loan can be up to $65,000 depending on household income. To be eligible for this funding, your adjusted household income needs to be less than the HPIE limit, which is typically >$158,000 per year.

Ontario

• PACE Program (Toronto) – Toronto residents can use the Home Energy Loan Program (HELP) to fund up to $125,000 on a wide variety of energy efficiency and renewable energy projects, including solar hot water systems and rooftop solar panels. The loan is attached to your property (not you) and is paid back through your property tax bill, at different rates based on the repayment term. This means that if you move, the loan will be transferred to the new property owners.

• PACE Program (Guelph) – The City of Guelph has received funding for a PACE program and was initially planned to be enacted within the year 2022, but no updates have been given since.

Prince Edward Island

• Clean Energy Loan – The province of Prince Edward Island currently offers the Energy Efficiency Loan Program for residents who qualify for efficiencyPEI’s energy efficiency or solar rebate programs. This is a 7-year loan of up to $10,000 at a fixed interest rate of 5%.

• PACE Program – PACE Atlantic financing to residents on heat pumps, PV systems, SMART thermostats, insulation, and more. 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. Programs are in place for Colchester, Stratford, Wolfville, and Charlottetown. offers financing to residents on heat pumps, PV systems, SMART thermostats, insulation, and more. 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.

Québec

Unfortunately, we are unable to find any residential clean energy financing programs in Québec. Instead, the province offers clean energy rebates. Check them out on our Incentives & Rebates Page.

Saskatchewan

• PACE Program (Saskatoon) – The City of Saskatoon has a Home Energy Loan Program (HELP) that provides loans up to $60,000 over flexible repayment terms of up to 20 years. Eligible projects include solar panels, heat-recovery ventilation systems, insulation upgrades, and more. The loan is attached to (and repaid through) your property tax and stays attached to the property even if you move.

Yukon Territory

• PACE Program – Yukon’s version of the PACE program is called the Rural Electrification and Telecommunications Program (RETP). It can be used to fund an alternate energy system (including solar and wind), but it is 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.

• Clean Energy Loan – The Home Repair Program is a loan up to $70,000 offered by the Government of Yukon that can be used for energy efficiency upgrades. The loan can be repaid over 15 years. To access this loan, your household income needs to be less than $119,960 per year.

More Clean Energy Reference Guides

Clean Energy Incentives

Complete list of clean energy incentives sorted by province.

Electricity Prices Canada

Average total electricity costs for every province and territory.

Sustainable Energy Data

A collection of national and provincial sustainability energy data indicators.

Clean Energy Targets

Clean energy targets for every province and territory.

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