It will start in July 2018, when page speed will be a ranking factor for Google mobile searches.
Google calls this the "Speed Update", which is not a terribly imaginative name if we're being honest. The search giant attributed the change to its users caring about the speed of a webpage. That change, in particular, is focused on forcing web publishers to ensure their mobile site has the same information as their desktop site - something that's not always the case today. As such, a slow page may still rank highly if it has great, relevant content. One example of that is the company's controversial Accelerate Mobile Pages (AMP) project, which places sites with AMP support in front of everyone else on search.
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If you're the proud owner of a website, the performance and load times of your website may soon affect the visibility of your content on Google Search. The same standard will also be applied to all pages, regardless of the technology used to build the page. In October a year ago, it had its Instant Search feature as well.
Of course, Google's end goal is to give a better experience for mobile users of its search engine.
Though speed will become more of a factor in determining the order of search results, the change is not so drastic as to make it the only factor.