Council green lights financing program for clean energy home improvements

Source: Meghan Potkins · CALGARY HERALD · | December 6, 2021

City council voted Monday to allow the city to borrow up to $15 million to launch the program next fall.

Source: Calgary City Hall was photographed on Monday, November 22, 2021. PHOTO BY AZIN GHAFFARI/POSTMEDIA

Calgary homeowners could soon access financing from the city to complete clean-energy improvements to their homes that can be repaid through their property taxes.

City council voted Monday to allow the city to borrow up to $15 million to launch the program next fall, which is expected to support up to 720 residential projects for projects like solar power installation, upgraded insulation and high-efficiency heating.

Coun. Peter Demong said the program will help homeowners lower their energy costs with the help of a low-cost loan that can be repaid through their property taxes over a term of 15 years or more.

“This is an excellent program that I see is going forward in several other Alberta municipalities, other cities in Canada,” Demong said.

“It is a great way for somebody to lower the eventual cost of electricity — which if you’re looking at your bills, is starting to creep up — so it is certainly something that I think a lot of people are going to be interested in.”