Financing Options

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Specialized Financing

At National Solar, we understand that financing a solar installation can be a daunting process. That's why we have an in-house personal financing expert with 20 years of professional experience ready to assist you. Our expert will guide you through loan applications, ensuring you have the best chance of approval. You'll receive unbiased advice on your optimal financing options, along with information on local, provincial, and federal incentives.

Solar Financing Options

The Canada Greener Homes Loan offers a 0% interest 10 year loan for your home solar installation and other eligible retrofits, for qualified homeowners, up to $40,000 (OAC).

Property Assessed Clean Energy programs, such as Alberta’s Clean Energy Improvement Program (CEIP). This financing is registered against the property, not the individual and typically paid through property taxes. Currently, this financing is available at 2.95%, amortized over a 20 year period. Limited number of applicants and is only offered periodically.

Home Equity Line of Credit (HELOC). If you do not already have a HELOC and you have enough equity in your home, you may be able to set one up very quickly without disturbing any current mortgages . Most banks and mortgage lenders offer this product and secured financing is typically offered at a better interest rate than unsecured.

You can build the cost of your solar installation into your mortgage, whether it is purchase financing or a refinance. This will be at a lower interest rate than a HELOC.

With unsecured financing. This comes in a variety of options, but best to have our in-house specialist vet it out for you to ensure you’re getting a fair deal.

Frequently Asked Questions

  • What types of financing options are available for solar panel systems?

    There are several financing options available for solar panel systems, including:


    • Personal Loans: Unsecured loans from banks or financial institutions.
    • Home Equity Lines of Credit (HELOC): Loans secured against the equity in your home.
    • Mortgage Financing: Rolling the cost of the solar system into your mortgage, either through refinancing or as part of a new home purchase.
    • Property Assessed Clean Energy (PACE) Programs: Loans repaid through property taxes, available in certain regions.
    • Government Loans and Incentives: Programs like the Canada Greener Homes Loan offering 0% interest loans for solar installations and other eligible retrofits.

  • Are there any government incentives or rebates available for solar panel installations?

    Yes, there are several government incentives and rebates available, including:


    Provincial and Municipal Programs: Various programs offer rebates, grants, or tax incentives at the provincial and municipal levels. For example, Alberta's Clean Energy Improvement Program (CEIP) provides financing options for solar installations.

  • How does the Canada Greener Homes Loan work?

    The Canada Greener Homes Loan is a federal program offering a 0% interest loan for up to $40,000 over 10 years for eligible home retrofits, including solar panel installations. Homeowners must qualify and meet certain criteria, such as undergoing an energy assessment and completing eligible upgrades.

  • Is it better to finance a solar panel system through a HELOC or a mortgage refinance?

    The best option depends on your financial situation. A HELOC typically offers more flexibility and can be set up quickly, often at lower interest rates than unsecured loans. However, mortgage refinancing might provide even lower interest rates and longer repayment terms, which could result in lower monthly payments. It's advisable to consult with a financial advisor or our in-house financing expert to determine the best option for you.

  • Can I still benefit from solar panel financing if I have bad credit?

    Yes, there are financing options available for individuals with bad credit, though the terms may not be as favorable. Unsecured personal loans and some government programs may still be accessible, but they might come with higher interest rates. It's important to work with a financing expert to explore all available options and find the best solution for your situation.

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If you have any questions about our services, are interested in installing new solar panels, or require maintenance on an existing system, National Solar is here to help. Please reach out to us through our contact form, or give us a call at your convenience. We are dedicated to providing you with prompt and attentive service to address all your solar energy needs.

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