PEI Solar Rebates and Tax Credits

efficiencyPEI’s Solar Electric Rebate Program provides incentives for Island homeowners, farms and businesses to install solar PV panels.  Solar incentives will help reduce greenhouse gas emissions by over 500 tonnes annually and create around 20 spin-off jobs in our renewable energy sector.  This program allows property owners to earn a cash rebate for solar system installations depending on what type of utility customer you are:

Residential:

  • $1000/kilowatt installed
  • Maximum of $10,000 or 40% of eligible costs, whichever is less

Commercial / Farm:

  • $350/kilowatt installed
  • Maximum of $10,000 or 40% of eligible costs, whichever is less

PEI Energy Incentives

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Energy Efficiency Equipment Rebates Program

  • For PEI residents only
  • Incentives for heat pumps, boilers, water heaters and more
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Home Renovation Rebate and Efficiency BC Program

  • For PEI residents only
  • Incentives for insulation, windows, doors, air sealing and more
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New Home Construction Incentive

  • For new home builds
  • Various free energy efficiency upgrades
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Home Energy Low Income Program

  • For low income residents
  • Rebate of $0.15/Watt up to a maximum of $6,500

PEI PACE Financing

Property Accessed Clean Energy (PACE) is an innovative financing option that allows you to cover the entire upfront cost of your solar system (or energy efficiency upgrades) with a $0 down, long amortization period low interest ‘loan’.  However, unlike a typical loan, this loan is attached to your property (not you) and is paid back alongside your property tax bill as a Local Improvement Charge (LIC).  Unfortunately, PEI does not have any PACE financing options available.

PEI Alternative Financing Options
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Vancity Home Energy Loan

  • As low as prime +1%
  • Up to 15 years amortization
  • Vancity contact number:  604-877-7000
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RBC Energy Saver Loan

  • Up to 10 years amortization
  • RBC contact number:  1-800-769-2511

CMHC Mortgage Loan Premium Rebate

  • Up to 25% refund on CMHC mortgage loan insurance premium