• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer

Atlantic Canada Business Grants

  • Atlantic Canada
    • Grants
    • Loans
    • Wage Subsidies
  • New Brunswick
    • New Brunswick Small Business Guide
      • Starting a Business in New Brunswick
      • Best Business to Start in New Brunswick
      • Businesses for Sale in New Brunswick
      • Register a Business in New Brunswick
      • Incorporating a Business in New Brunswick
    • Grants
    • Loans
    • Tax Credits
    • Wage Subsidies
  • Newfoundland
    • Newfoundland & Labrador Business Guide
      • Start a Business in NL
      • Best Business to Start in NL
      • Businesses for Sale in NL
      • Incorporate a Business in NL
      • Register a Business in NL
    • Grants
    • Loans
    • Tax Credits
    • Wage Subsidies
  • Nova Scotia
    • Nova Scotia Small Business Guide
      • Starting a Business in Nova Scotia
      • Best Business to Start in Nova Scotia
      • Businesses for Sale in Nova Scotia
      • Incorporating a Business in Nova Scotia
      • Register a Business in Nova Scotia
    • Grants
    • Loans
    • Tax Credits
    • Wage Subsidies
  • PEI
    • PEI Small Business Guide
      • Starting a Business in PEI
      • Best Business to Start in PEI
      • Businesses for Sale PEI
      • Incorporate a Business in PEI
      • Register a Business in PEI
    • Grants
    • Loans
    • Tax Credits
    • Wage Subsidies
  • Contact
  • About

Energy Efficiency Loan Program – Solar Photovoltaic Equipment (EELP-SERP)

by Maurice | February 6, 2023

Amount:

No Fixed Amount

Type of Program:

Loan


Description:

The Energy Efficiency Loan Program for Solar Photovoltaic Equipment (EELP-SERP) will provide financing to qualifying Prince Edward Island home-owners, farms and businesses that are approved applicants under efficiency PEI’s Solar Electric Rebate Program. This will assist with the up-front costs associated with the purchase and installation of Solar PV equipment that can lower energy bills for Islanders.

Comments on Funding:

Funding is 100% of invoiced costs (including non-refundable HST) associated with the purchase and installation of Solar PV systems that have been pre-approved by efficiencyPEI under their Solar Electric Rebate Program.

The loan will bear interest at the fixed rate of 5% per annum and is repayable over a period not to exceed 15 years.

Loans to farms and businesses may exceed $25,000 (net of rebate). The amount of financing available will be based on the debt servicing capacity of the applicant, and availability of security.

The Loan will be secured by a promissory note and a collateral mortgage over the applicant’s real property on which the Solar PV equipment is installed.


When It Ends:

Ongoing

Deadline:

Rolling deadline

Eligibility:

The applicant must:

  • be home-owners Prince Edward Island residents with the property on which the Solar PV equipment is being installed as their principal residence,
  • be farm and business applicants operating on Prince Edward Island and registered under the Province of Prince Edward Island’s Corporations Act,
  • be pre-approved under efficiencyPEI's Solar Electric Rebate Program,
  • be the registered owner(s) of the property where the Solar PV equipment is being installed.

The EELP-SERP is not available for projects involving new home or building construction

Application Steps:

1

contact efficiencyPEI to ensure that the proposed Solar PV project meets the program requirements,

2

submit quotes to efficiencyPEI for approval and await the project pre-approval letter,

3

 submit the efficiencyPEI pre-approval letter to Finance PEI with a completed financing application (farm and business applicants should contact Matthew McMillan for application requirements),

4

receive a pre-approval letter from Finance PEI, if approved for financing,

5

have work completed and submit invoices to efficiencyPEI for approval.

Finance PEI will contact client to have loan documentation executed. The efficiencyPEI rebate will be applied directly on the EELP loan to reduce the balance.

Documentation Needed:

No specific documentation has been identified.

Other Things to Note:

No other details available.

Program Contact:

Energy Efficiency Loan Program - Solar Photovoltaic Equipment

Related posts:

Starting a Business in PEI: Step-by-Step Guide for Prince Edward Island Entrepreneurs
Prince Edward Island Small Business: Complete Guide for Entrepreneurs
Incorporating a Business in Prince Edward Island: Step-by-Step Guide for New Entrepreneurs
Registering a Business in PEI: Step-by-Step Guide for Prince Edward Island Entrepreneurs

About Maurice

Maurice (Moe) Muise learned the ins-and-outs of government while an employee of the Government of Canada in Ottawa for 10 years. His current focus is helping small businesses in Atlantic Canada to identify and maximize government grants to grow their business. Click here to learn more about Moe’s background and how he can help your business.

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Primary Sidebar

Recent Posts

  • Nova Scotia Small Business: Complete Guide for Entrepreneurs
  • How to Start a Business in New Brunswick: Step-by-Step Guide for New Entrepreneurs
  • How to Start a Business in Newfoundland and Labrador: Step-by-Step Guide for New Entrepreneurs
  • Starting a Business in PEI: Step-by-Step Guide for Prince Edward Island Entrepreneurs
  • How to Start a Business in Nova Scotia (2023): Step-by-Step Guide for New Entrepreneurs

Recent Comments

  • Toni Mladineo on Clean Technology Loan

Footer

Company

  • About Me
  • Contact

Categories

  • Atlantic Canada
  • New Brunswick
  • Newfoundland & Labrador
  • Nova Scotia
  • Prince Edward Island

© 2023 · Atlantic Canada Business Grants

  • About Me
  • Contact