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Understanding Nova Scotia’s Solar Rebates & Financing Options

Understanding Nova Scotia's Solar Rebates & Financing Options

Hey there, homeowners! Are you ready to harness the sun’s power and save some serious cash? In this article, we’re diving into the world of rebates and financing for solar panels in Nova Scotia. Discover how these incentives can make solar energy more accessible and affordable, allowing you to enjoy both environmental and financial benefits. Let’s explore the sunny side of going solar!

SolarHomes Rebates

The Solar Homes Rebates program is designed to make solar energy more accessible and affordable for homeowners in Nova Scotia. Eligible homeowners can receive financial incentives to help offset the upfront costs of installing solar panels on their properties. By utilizing these rebates, you can significantly reduce your initial investment and enjoy the long-term benefits of solar power, benefiting both the environment and your wallet.

The current rebate from the Nova Scotia Solar Homes program is up to $3,000, which equates to 30 cents per watt. This should be clarified to ensure accurate information is provided.

Property Assessed Clean Energy (PACE) financing programs

Property Assessed Clean Energy (PACE) financing programs help homeowners like you finance energy-efficient upgrades, including solar panels, by adding an assessment to your property taxes. You can borrow money to cover the upfront costs and repay it through property taxes. PACE financing is tied to your property, not you personally, so if you sell your home, the remaining balance can be transferred to the new homeowner. You can contact your local community to get more information about PACE programs.

Solar City — Halifax Regional Municipality

This program is specifically designed to support solar installations. With Solar City, homeowners in Halifax can access financing options to switch to solar energy. It’s an excellent opportunity to reduce your carbon footprint and save on energy costs. 

The community places a voluntary Local Improvement Charge (LIC) on the property after the solar contractor is paid at the end of the project. The LIC is an additional annual charge separate from the property owner’s annual tax bill. The LIC payments are made over a period of 10 years at a fixed interest rate (4.75%), with the option for the property owner to pay the balance in full and subsequently remove the lien at any time without penalty.

If you’re interested, contact Solar City at (902) 490-6821 or [email protected] to get started.

Town of Amherst Clean Energy Financing program

The Town of Amherst Clean Energy Financing program is designed to help residents finance clean energy upgrades. If you live in the Town of Amherst, homeowners can qualify for financing between $15,000-$25,000 to help you install efficiency and clean energy upgrades with a low lending rate. Payments can be spread over ten years. To learn more, please get in touch with [email protected] or 1-844-727-7818.

Bridgewater Clean Energy Financing program

The Bridgewater Clean Energy Financing program is another initiative that also aims to help residents finance clean energy upgrades. The community offers up to $20,000 for qualifying homes at a fixed low-lending rate over ten years. To find out more, visit www.CleanEnergyFinancing.ca or call toll-free at 1-844-727-7818.

District of Lunenburg Clean Energy Financing program

The Community of the District of Lunenburg offers funding of up to $10,000 to assist homeowners in installing efficiency and renewable energy renovations at a low-interest rate, with payments stretched over ten years. To learn more, visit www.CleanEnergyFinancing.ca or call toll-free 1 (844) 727-7818. Please note that this program does not apply to the Town of Lunenburg.

District of Digby Clean Energy Financing program

The District of Digby Clean Energy Financing program also helps residents finance clean energy upgrades. If you live in the community of the District of Digby, you could qualify for up to $15,000 in efficiency and renewable energy renovations at a fixed low financing rate of 4% over ten years. If you’re interested in participating, contact the District of Digby at www.CleanEnergyFinancing.ca or call toll-free 1 (844) 727-7818.

District of Barrington Clean Energy Financing program

Homeowners in The District of the Community of Barrington who are eligible can apply for up to $10,000 in low-cost financing to improve their homes’ efficiency and renewable energy. Visit www.CleanEnergyFinancing.ca or call toll-free 1 (844) 727-7818 to learn more.

Solar Colchester PACE program

Solar Colchester assists qualifying Colchester home or property owners in installing photovoltaic solar panels by providing up to $30,000 in municipal finance. Residential property owners can repay the project’s cost over 15 years at 0% interest. To learn more, visit https://www.colchester.ca/solarcolchester.

New Glasgow Clean Energy Financing program

In the Community of New Glasgow, homeowners can qualify for financing up to $15,000 to help install efficiency and clean energy upgrades with a low lending rate. Payments can be spread over 10 years. For additional information or to apply, please visit www.CleanEnergyFinancing.ca or contact 1 (844) 727-7818.

Switch Wolfville financing program.

Switch participants are offered 0% financing fixed for up to 15 years with no upfront costs. The community will pay the contractor, and the homeowner will pay back the loan from their anticipated energy savings. The Switch programs will finance a range of energy-efficient products, including heat pumps, solar systems, insulation, and more. For additional information or to apply, visit pace-atlantic.org/switch-wolfville or call 902-454-0899.

District of Yarmouth Clean Energy Financing program

If you reside in the Municipality of the District of Yarmouth, you could be eligible for low-interest financing of up to $15,000 over a ten-year period to update your renewable energy and efficiency. To learn more or to apply, visit www.CleanEnergyFinancing.ca or call toll-free 1 (844) 727-7818. Please note that this program does not apply to the Town of Yarmouth.

Do you want your community to participate in a PACE program? Contact your community and let them know NOW!

Private Financing Programs

If you’re looking for private financing programs for clean energy upgrades, there are several options available:

Polaron

Polaron is a company that specializes in providing financing solutions for clean energy projects. With over 8,000+ installations nationwide since 2013, Polaron has grown to become Canada’s largest solar company—and one of Ontario’s most trusted installers. While the company has its home office in Ontario, it also has local offices in Prince Edward Island, Nova Scotia, British Columbia, and Alberta. They provide a unique lease-to-own option with a $1 transfer rate and a 12-year duration. This enables their consumers to go solar and invest in their homes while maintaining their current cost of living. To find out more, visit https://polaronsolar.com  or call 1-888-318-1988.

Skylit Solar

Skylit Solar, formerly known as Nova Solar, is different from your typical commercial bank. The community initiative is called a Community Economic Development Investment Fund (CEDIF). Skylit Solar provides community-sourced financing from a local Nova Scotian company. You might be eligible for a financing lease with them, offering low rates over a 10-year term. At the end of the lease, you can buy your system for just a $50 transfer fee. That means you can keep generating electricity for the remaining life of the system. It’s a win-win situation for you and the community! For more information, visit https://www.skylit.ca  or call 1 902 812 1050.

Credit Union Atlantic Go Green Financing

Check out Credit Union Atlantic’s Go Green Financing program if you’re looking for financing options for your solar installation. With various financing options available, CUA can help you be more energy efficient, improve your comfort, and ensure you positively impact the environment. Their financing rates for energy-efficient upgrades are as low as 7.49%. It’s a great way to realize your solar dreams while being environmentally conscious. For more information, visit https://www.cua.com.

Doctor Solar Financing

If you’re looking for financing options for your solar installation, check out Doctor Solar Financing. They offer specialized financing solutions tailored specifically for solar projects. It’s a great way to make your solar dreams a reality while managing your budget effectively. For more information, visit https://solardoctorsllc.com  or call (408) 903-0919.

Don’t be intimidated by the process of going solar! With various supportive programs, making the switch is easier than ever. The abundance of rebates, financing options, and community initiatives simplifies the journey and empowers you to take control of your home’s energy use. Whether you choose a PACE program with its spread-out payments, a municipal financing option with a low interest rate, or a private lender with a creative lease-to-own structure, a path to solar power perfectly suits your financial situation. So, ditch the energy bill anxiety and embrace the confidence that comes with clean, reliable, and potentially cost-saving solar energy. Start exploring these programs today and unlock a brighter future for your home, both environmentally and financially!

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