The Town of Aurora, Ontario, is currently reviewing a new program that would provide homeowners with low-interest loans to pay for energy-saving upgrades like solar panels and better insulation. If approved by local council this spring, the plan would help residents lower their energy bills and reduce local pollution levels.
The Town of Aurora is looking at a financing model where the cost of the home upgrades is attached to the property and paid back through property tax bills over five to 20 years. Officials expect the loans to range between $40,000 and $75,000 with interest rates between 3 per cent and 5 per cent.
If the council gives the green light, a small test version of the program for 20 to 50 residents could start in late 2026 or early 2027. This initiative is supported by a $174,420 grant from the Federation of Canadian Municipalities through its Green Municipal Fund.
According to Engage Aurora, the program is part of a larger plan to cut community greenhouse gas emissions by 22 per cent by 2030. Residents may also be able to combine these loans with the Home Renovation Savings Program, which offers up to $10,000 in rebates for solar and battery systems until November 30, 2026.
Similar programs have already seen success in other cities, such as the Home Energy Loan Program in Toronto which has over 1,200 participants. Local residents with questions about the upcoming proposal can contact the program manager for energy and environment at the town office.
