Industry

…and the Rise of Some Truly Terrible Replacements.

For years, Canadian homeowners enjoyed access to something that sounded almost too good to be true… and shockingly wasn’t.
We’re talking about the Canada Greener Homes Loan (CGHL) — the unicorn of financing:

✅ Up to $40,000
✅ 0% interest
✅ Pay back over 10 years
✅ No admin fees
✅ No hidden “surprises”
✅ No penalties for early repayment

A real, honest-to-goodness, government-backed, interest-free loan. Not a financial product wrapped in sparkly marketing. Not a “promo rate gimmick.” Just a genuinely helpful tool.

Alas… that era has ended.
The CGHL portal is now closed to new applications.
Pour one out for the real MVP of solar financing. 🍺

And, as expected, the moment the true-zero-interest train left the station, many solar companies started scrambling.
Some did so ethically…
Others did what you’d expect when the candy bowl disappears — they got desperate.

And now, the financing tactics we’re seeing?
Well… they deserve a spotlight. And maybe a warning siren. 🚨

Let’s talk about it.

🚨 What We’re Seeing — And Why We’re Concerned
❌ “Don’t pay until 2027!”

Sounds great, right?
It’s November 2025. Who doesn’t love the idea of skipping payments for a year?

But here’s the hidden plot twist:
We looked into one of these offers through FinanceIt. Here’s what’s actually happening:

• The contractor pays 6.99% of the loan amount up front to “buy” the 1-year no-payment promo.
• After that year? The homeowner is stuck with 13.99% interest for up to 19 more years.
• And that 6.99% cost? It’s usually buried into the system price… and never mentioned out loud.

So in real terms, the customer:

• Pays more for the solar system (to cover the 6.99%)
• Then pays 13.99% interest for nearly two decades

That “don’t pay for a year” teaser turns into:

The world’s most expensive nap.

This is how you buy a solar system…
and pay for it twice.

Who wins?
✅ FinanceIt
✅ Any installer willing to play along

Who loses?
❌ Homeowners

This is the opposite of what made CGHL special.
This is marketing glitter at payday-loan prices.

And unfortunately, it gets worse…

🚨 Even Worse: Fake “0%” Loans With $10,000+ in Fees

We’re also seeing a separate in-house financing model floating around Nova Scotia. This one has been here for a while folks.
It loudly advertises:

“0% FINANCING — 20 YEARS!”

Sounds like the CGHL reincarnated, right?
Not so fast…

Here’s how it works:

• 20-year repayment term
• A lien on your home
• “Admin fees” over the term that often exceed $10,000+

That’s right:
They didn’t remove the borrowing cost — they just renamed it.

If you pay $10,000 to borrow money, it doesn’t matter whether you call it:

• “Interest”
• “Admin fees”
• “Unicorn glitter handling charges”

It’s still money you’re losing.

At least a traditional bank tells you the interest rate.
Here, the true cost is camouflaged.

This structure can:

• Reduce home-sale flexibility
• Interfere with refinancing
• Lock you into long-term debt

Frankly, we consider this model more misleading than high-interest loans — because it hides the cost behind friendlier words.

“0% interest” should mean…
0% interest.
Not “just kidding, here’s a $10,000 service fee and a lien.”

Big yikes. 🙃

We get it — business is business.
But business must still be ethical.

Anyone who understands solar economics knows that too much interest destroys the financial value of a solar system.
Financing should help homeowners — not sabotage their ROI.

✅ There’s Good News: Municipal PACE-Style Loans Still Exist

Before you lose hope — there are still responsible financing pathways in Nova Scotia.
The unsung hero: Municipal PACE programs.

Programs like:

Halifax Solar City

Various Clean Energy Financing programs

SwitchPACE

These have been around for years — long before the CGHL boom — and they’re run by municipalities, not private loan sharks.

They offer benefits like:
✅ Fair interest rates
✅ Good term lengths
✅ Added to your property tax bill
✅ Transferable on sale
✅ No gimmicks
✅ Transparent pricing

And best of all:
They don’t rely on “buy now, panic later” marketing tricks.

You can browse every NS municipal program on our financing page:

👉 https://wattsupsolar.ca/solar-financing

We recommend them.
Happily.
Enthusiastically.