Solar panels installed on a house in northern Alberta. (Tera Born via CBC)
4 communities in Alberta shall be eligible to receive funds from the federal government to assist homeowners tackle home energy projects.
Announced on Monday, the federal government allocated the next funds through its Community Efficiency Financing Initiative:
• $1.6M for the Town of Canmore
• $3.8M for the City of Lethbridge
• $5M for the City of St. Albert
• $15M for the City of Calgary
This funding shall be along with the already approved energy-efficient loans that Calgary homeowners have been capable of access through the Clean Energy Improvement Program or CIEP.
The CIEP allows eligible homeowners to use for low-interest loans as much as $50,000 from town, which they’ll add to their property tax bills and repay over fifteen years.
Solar panels are among the many list of potential projects funded through the CIEP, together with increasing insulation, upgrading existing windows, or investing in a tankless hot water system.
Similarly, with the extra federal funds announced, homeowners will have the opportunity so as to add the fee to their property tax bill.
The concept is that the investment from the federal government will help communities implement energy-efficient upgrades to their homes and finance them with low-interest loans.
Retrofitting existing buildings is a serious component of Canada meeting its climate goals.
Offering additional funds will make expensive upgrades more accessible to a broader community of householders.
The hope is that by making these upgrades now, more Canadian homeowners shall be resilient against expected energy price spikes and climate events for many years to return.