The Clean Energy Improvement Program is scheduled to launch in 2019.
Accessing affordable financing is one of the largest barriers property owners face when deciding to invest in energy efficiency and renewable energy upgrades. Individuals may not have the money up front or are worried about selling the property before getting their investment back.
The Clean Energy Improvement Program, the made-in-Alberta approach to Property Assessed Clean Energy (PACE), will make it easier for property owners to overcome these barriers.
Property owners will be able to install renewable energy and make energy efficiency upgrades by paying for the improvements over time through their property taxes.
How does this financing program work?
Municipalities that choose to offer the Clean Energy Improvement Program can offer up-front financing for qualifying upgrades on private property, with repayment facilitated through a property owner’s property taxes.
Energy Efficiency Alberta will be delivering the program on behalf of participating municipalities. Under the program, residential, commercial, and agricultural property owners will be able to make energy efficiency improvements. Energy Efficiency Alberta will provide customer support and work with municipalities every step of the way – from bylaw adoption through execution and administration of the program.
What are the program’s benefits?
- Provides 100 per cent up-front financing for individuals
- Stimulates and diversifies a community’s economy by supporting businesses that provide energy efficiency and renewable energy services
- Revitalizes building stock and boosts property values
- Assists communities in meeting sustainability goals by reducing greenhouse gas emissions
- Helps property owners decrease their energy costs, avoid increased debt loads, and ensure their property is equipped with energy-efficient upgrades using a network of qualified contractors
- Operates entirely voluntarily for municipalities and property owners