Homeowners in Lethbridge can now apply for the city’s Clean Energy Improvement Program again. The program provides low-interest loans to residents looking to do renewable energy upgrades to their homes.
It started in February this year and applications reached capacity within a week, with 47 homeowners left on a waitlist. When it launched, the program had a cap on funding allocated annually, for a total of $3.8 million between 2023 and 2026.
City council voted to remove the annual restrictions at its Oct. 17 meeting to allow for homeowners to get the loans sooner.
READ MORE: Council to consider removing restrictions on green energy loans for homeowners
The program is in partnership with the Federation of Canadian Municipalities, which agreed on changing the loan terms.
“On behalf of City Council, I am thrilled to be able to move up the timelines for this great initiative,” says Mayor Blaine Hyggen. “With nearly 50 people on the waitlist and likely many others who were interested but did not get an application in during the first week, this decision provides more opportunities for our residents interested in this program.”
Homeowners can apply for the program for green energy upgrades worth more than $3,000. These can include upgrading windows, adding solar panels and increasing insulation.
Each project can be eligible for up to $50,000 and the money will be collected through the homeowner’s property tax bill over 20 years. The financing can be transferred to a new owner if the home sells in that time and the loan can be paid in full without penalties.