Dec 183 min read

Solar Savings in Victoria, BC: Save Big on Your New Installation!

Greener Homes Loan

Take advantage of solar savings with the Canada Greener Homes Initiative's Greener Homes Loan and receive up to $40,000 in an interest-free loan with a 10-year repayment term! This loan helps homeowners finance energy-efficient upgrades, including solar installations. We know navigating financing and rebate incentives can be overwhelming, so we’re here to simplify the process.

Are You Eligible For the Greener Homes Loan?

You must be a Canadian citizen, permanent resident, or non-permanent resident authorised to work in Canada
The home must be your primary residence and owned by you
- Indigenous group applicants can register multiple homes for this program if they own the home(s) and/or have a formal partnership to represent the owners
You must have a pre-retrofit evaluation completed, with no post-retrofit evaluation conducted yet
You should not have started any solar upgrades for which you’re applying for a loan
You need a good credit history and must not be in a consumer proposal, an orderly payment of debt program, or bankruptcy

Loan Application Made Easy

Start by confirming if your home needs a service upgrade, then schedule an evaluation with us to receive personalised recommendations and a free customized quote. We’ll provide a detailed summary of the costs and work involved in your loan application, including your pre-retrofit evaluation file number.
Next, sign up and submit your loan application with the following documents:
- Pre-retrofit evaluation file number
- Oceanvolt Solar & EV detailed quote
- Government-issued photo ID with your address
- Property tax bill or assessment
- Proof of income and employment
Book your upgrade with us to install all of your solar retrofits. We’ll complete your installation and provide you with all final invoices and a post-retrofit evaluation.
Sign back into the loan application portal and choose “Request Funding”. You will be asked to upload all final invoices for the completed work.
Receive your loan amount sent to the email address you signed up with. You’ll receive a second email after your loan is funded with detailed information regarding repayment.

Loan Details

Maximum

$40,000

Minimum

$5,000

Repayment Term

10 years, interest-free

Loan Type

Unsecured personal loan on approved credit

BC PST Tax Exemption

Installing solar panels in British Columbia comes with the added benefit of Provincial Sales Tax exemptions. Solar panels are exempt from PST, and other related equipment, such as:

Wiring
Controllers
Solar thermal panels
Solar batteries

To qualify for BC's PST exemption, all related equipment (including solar batteries like the Tesla Powerwall) must be purchased on the same invoice as your solar panels. For maximum solar savings, bundle all eligible equipment at the time of purchase. To learn more about how the Tesla Powerwall can enhance your home’s energy control, visit our Tesla Powerwall page.

Why is BC’s PST Exemption a Big Deal?

British Columbia is the only province in Canada offering a tax break for solar power systems, making this incentive a valuable opportunity for homeowners and businesses looking to reduce their energy costs. By removing the provincial sales tax, the government encourages more people to install renewable energy solutions and become energy independent.

At Oceanvolt Solar and EV, we proudly help our customers install solar panels in Victoria, BC, and secure savings. Whether you're upgrading your energy system or installing solar for the first time, our team is here to guide you and ensure you get the most out of available solar incentives.