Solar Incentives and Rebates in Ontario 2024
As the demand for clean and sustainable energy continues to rise, many homeowners and businesses in Ontario are considering solar solutions to reduce their carbon footprint and energy costs. However, navigating through the myriad of solar incentives can be challenging. In this guide of Solar Incentives and Rebates in Ontario 2024, we’ll explore the various solar incentives available in Ontario, focusing on specific programs in cities like Ottawa, Guelph, Durham, Toronto, and even federal initiatives. Let’s delve into the opportunities and financing models that can make the transition to solar more accessible and affordable for everyone.
Provincial and Municipality Incentives and Rebates
Ontario has invested $300 million in supporting municipalities to offer financing solutions to low-rise residential properties. Municipalities employ models like PACE, utility on-bill financing, and third-party lending partnerships to facilitate solar projects.
First Nations Conservation Program
On-reserve customers can benefit from the First Nations Conservation Program, providing free efficiency upgrades to enhance energy efficiency. To learn more click here.
Toronto’s PACE Programs
Toronto stands out with two PACE programs – HELP and Hi-RIS. HELP focuses on single-family homes with a $75,000 cap and a 20-year repayment plan. On the other hand, Hi-RIS targets apartment building owners (3 stories or more) to reduce emissions through sustainable infrastructure upgrades.
Ottawa’s Better Homes Ottawa Loan Program
In Ottawa, homeowners can benefit from a pilot loan program offering zero-interest, 20-year loans of up to $125,000 for solar and other energy efficiency retrofits. This program is designed to make solar investments more accessible and affordable.
Guelph’s Greener Homes Program:
Guelph homeowners can apply for a zero-interest loan of up to $50,000 to help cover the costs of energy-efficient home retrofits from windows and doors, to heat pumps and solar-powered systems. The Guelph Greener Homes program is part of the City’s commitment to sustainability as it strives to become a net-zero carbon community by 2050 and win the Race to Zero. The loan program will help homeowners reduce greenhouse gas (GHG) emissions and support a future-ready Guelph while making homes more comfortable with money-saving, energy-efficient upgrades.
Durham’s Deep Retrofit Rebate
Residents in Durham can leverage the Deep Retrofit Rebate, offering up to $10,000 in incentives. Combining this with the Canada Greener Homes Grant Program and Enbridge Gas incentives, homeowners can receive rebates of up to $20,000.
Toronto’s HELP Program
The Home Energy Loan Program (HELP) in Toronto offers financing of up to $75,000 for various energy efficiency improvements, including rooftop solar PV panels, making it practical for homeowners to invest in clean energy.
Enbridge collaborates with the Canada Greener Homes Grant, providing rebates for energy efficiency upgrades, including up to $5,000 for solar panels or batteries.
Federal Incentives and Rebates
The federal government provides an exclusive opportunity for homeowners to access loans of up to $40,000 for transitioning to solar energy. This loan is interest-free, allowing you to repay the loan while enjoying the savings generated by your solar panels. This advantageous arrangement minimizes the financial burden and provides a seamless pathway toward achieving energy independence.
Greener Homes Grant: This program is now unavailable.
Learn more here.
Commercial Tax Incentives and Rebates
For businesses, the Accelerated Capital Cost Allowance and Canadian Renewable Conservation Expense offer tax incentives for renewable energy projects, providing a competitive edge in the clean energy sector.
Agricultural Clean Technology Program
Farmers can explore the Agricultural Clean Technology (ACT) Program, supporting the adoption of clean technologies, including solar PV systems, to reduce greenhouse gas emissions in the agriculture sector. To learn more click here.
Smart Renewables and Electrification Pathways Program (SREPs)
SREPs contribute to Canada’s transition to a clean, electrified economy by investing in renewable energy projects and grid modernization. To learn more click here.
Section 43.2 Tax Incentives
Under Class 43.2, specific clean energy generation equipment, including solar PV, benefits from an Accelerated Capital Cost Allowance, enhancing the financial viability of commercial solar projects. To learn more click here.
Ask Us About Net Metering
One of Ontario’s most critical incentives for solar energy is the Net Metering program. This program allows homeowners and businesses to offset their electricity costs by exporting excess solar power back to the grid. With Net Metering, the surplus energy generated by your solar system is credited to your account, effectively reducing your monthly electricity bills. This financial advantage helps you lower your carbon footprint and provides long-term savings on your energy expenses. Investing in solar energy can maximize your economic potential while contributing to a sustainable future.
Take Advantage Now!
Enhancing your home with solar panels is a win-win for the environment and your finances. If you’re ready to take the next step and want to explore the best option for your needs, schedule a free appointment with one of our Solar Advisors. Our team will assess your property, roof size, and electricity consumption, helping you make the right decision for your home.