Loan program helping Lethbridge residents afford home improvement projects
Global News
Lethbridge has become the ninth community in Alberta to launch a program helping residents pay for energy efficient and renewable energy upgrades to their homes.
Lethbridge has become the ninth community in Alberta to launch a program helping residents pay for energy efficient and renewable energy upgrades to their homes.
The Clean Energy Improvement Program through Alberta Municipalities helps to eliminate the upfront cost of installing items like new windows, doors, solar panels, lighting fixtures and more to residential properties by offering low-interest financing through the city.
Residents can pay off the loan for the span of up to 20 years — depending on the project — which is added to property tax payments. The cost of the improvement must be between $3,000 and $50,000 dollars.
“Alberta Municipalities is pleased to support the City of Lethbridge as it introduces its Clean Energy Improvement Program,” said Cathy Heron, the president of Alberta Municipalities.
“This program will help residential property owners invest in energy efficiency upgrades or renewable energy installations, making their properties more comfortable while enhancing their property values and saving energy costs.”
The CEIP entered development around five years ago and has seen success in Calgary, Edmonton, Canmore, Athabasca, Devon, Leduc, Rocky Mountain House and St. Albert.
Pre-qualification applications were being accepted from Lethbridge residents as of Tuesday, and Mayor Blaine Hyggen said they were rolling in early.
“I think it’s fantastic to be able to see what it’s done in other areas, (and with) us being able to come on board, it’s great,” he said.