Lethbridge homeowners can now apply for low interest financing for green energy upgrades to their property. The city has partnered with Alberta Municipalities to offer the Clean Energy Improvement Program (CEIP), which has a goal of creating a more climate resilient community and lower energy consumption.
Projects worth more than $3,000 can be eligible for the program and can include upgrades such as new windows, doors, solar panels, lighting fixtures or adding insulation.
Homeowners who participate in the program will get low interest financing from the city and repayment will be collected through property tax bills during the span of 20 years. The financing can be repaid in full at anytime with no penalty and can be passed on to a new owner if the home sells.
“Not only will this program help property owners with energy bill savings and provide low-interest financing, the CEIP will help support our local economy,” says Mayor Blaine Hyggen. “This is wonderful news for our community for those looking to make more affordable home upgrades, as well as for the work being created for local energy efficiency and renewable energy contractors.”
Individual projects can cost up to $50,000 but cannot exceed the property’s annual property tax payment. Over the course of the four year pilot project, the city estimates 180 homeowners will benefit from the program directly. The funds are administered through Alberta Municipalities in partnership with the City of Lethbridge and are supported by the federal government. The city received $3.8 million from the Federation of Canadian Municipalities’ (FCM) Green Municipal Fund for the program.
“Alberta Municipalities is pleased to support the City of Lethbridge as it introduces its Clean Energy Improvement Program,” says Cathy Heron, president of Alberta Municipalities. “This program will help residential property owners invest in energy efficiency upgrades or renewable energy installations, making their properties more comfortable while enhancing their property values and saving energy costs.”
The city is encouraging local contractors who include energy efficiency and renewable energy in their services to apply to be listed as a qualified contractor on the program website in order to provide services for CEIP projects.
The program does not work retroactively and the city says an application will need to be submitted and approved prior to any work being started on the project.