Energy retrofit loan program approved by Calgary city council
Global News
Homeowners will repay the city for energy efficiency renovations via their property taxes.
Calgary homeowners looking to get some help retrofitting their home to be more energy efficient will soon be able to get that help from their property taxes.
Approved by city council on Monday, the Clean Energy Improvement Program covers up to $50,000 for those renos, to be repaid on the property tax bill over a period of up to 25 years at the same interest rate the city would pay on loans funding the program.
Eligible improvements include smart thermostats, improved insulation, higher-efficiency major appliances, door or window replacement and solar power generation systems.
Mayor Jyoti Gondek said many Calgarians had expressed interest in this type of program.
“There’s a lot of people that have sent in emails and people that have come to us at public presentations as well about being able to leverage some of the dollars through their property taxes to make additions and changes to their own homes. This is definitely something that consumers are interested in and we’re looking forward to making it happen for them.”
City officials estimate around 720 houses will be able to take part in the first run of the program.
Funds come from a mix of loans and grants: $5 million in grants from the Federation of Canadian Municipalities (FCM), a $10-million loan from FCM, and $5 million from an internal loan.
“The Clean Energy Improvement Program is Alberta’s version of a clean energy financing or PACE (Property Assessed Clean Energy) program, when a municipality leverages the property tax collection mechanism to facilitate repayments of financed clean energy improvements,” Dick Ebersohn, the city’s manager of climate change and environment, said.
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