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If you need to replace the heating and/or cooling equipment in your home, or are thinking about an upgrade like an energy-efficient heat pump, you may have heard about the Canada Greener Homes Loan (CGHL). This is a legitimate program offered through the Government of Canada’s Natural Resources Canada branch. You can get the full details on their official website here, but these are the Coles NotesTM:
What Is It?
The Canada Greener Homes Loan is a loan from the government for $5,000 to $40,000 with 0% interest over a 10-year repayment term. It’s specifically to be used for retrofitting your home to be more energy efficient. One of the most popular applications for this is with approved, energy-efficient HVAC equipment.
Are There Eligibility Requirements?
Yes. There’s no income level cut-off, but it’s designed for single-family homeowners. The full details can be found on the NRCan website linked above.
Can I use the CGHL for Any HVAC Equipment?
No. You need to select equipment that’s been validated by Natural Resources Canada. This can easily be done by your local ClimateCare contractor, but a full list is also housed on the NRCan website should you want to peruse it yourself.
0% Interest? Really?
Yes, really! It’s a great way to save you thousands of dollars when making the smart investment in more eco-friendly and energy-efficient heating and cooling appliances like cold climate heat pumps. Check out the table below for a comparison of how much it could save you compared to a traditional loan like a line of credit:
Why Would the Government Do This?
Making access to more energy-efficient heating and cooling equipment aligns with the federal government’s objectives to decarbonize and can also support lowering the burden on electrical grids nationwide by promoting more energy-efficient solutions.
How do I Get Started?
The best way is to meet with a Comfort Advisor from your local ClimateCare to review your needs. They’ll review your home together with you, understand your priorities, and perform a detailed heat load calculation to ensure the equipment that’s recommended is appropriate. They can also answer any questions you have about the Canada Greener Homes Loan, applicable rebate programs, and any other matters you’d like to address!
