Spruce Grove homeowners can now take part in the innovative Clean Energy Improvement Program
Starting today, Spruce Grove homeowners have an innovative new way to implement energy efficient and renewable energy upgrades to their homes thanks to the Clean Energy Improvement Program (CEIP).
The Government of Canada and the Federation of Canadian Municipalities invested $3.1 million to the local program ($2,054,030 loan and $1,027,010 grant) through the Green Municipal Fund’s Community Efficiency Financing (CEF) program.
CEIP allows homeowners to apply for low-interest financing from their municipality and conveniently repay that financing through their property tax bills. Up to $50,000 per property is available to eligible participants, with a repayment period of up to 20 years depending on the expected life of the upgrade. Homeowners are also able to repay their financing amounts in full at anytime without penalty and the outstanding financing can be transferred to the next owner if the home sells. Spruce Grove participants will also receive a generous rebate of 7.5% of financed costs, applied directly to reduce the total cost of their financing, when their project is complete.
“The Clean Energy Improvement Program provides our residents with a fantastic opportunity to make energy efficient upgrades to their homes while keeping affordability in mind. We’re excited to be able to offer Spruce Grove homeowners a competitive, low-cost interest rate, and a generous rebate. We hope to see many homeowners take advantage of this opportunity to increase their home’s comfort and efficiency,” says Mayor Jeff Acker.
CEIP is administered by Alberta Municipalities in partnership with the City of Spruce Grove. Alberta Municipalities is a not-for-profit association founded in 1905. It represents Alberta’s 265 urban municipalities including cities, towns, villages, summer villages, and specialized municipalities.
With the goal of lowering energy costs and creating a more climate-resilient community, CEIP can be used to make upgrades to things such as windows, doors, heating, ventilation and air-cooling systems; installing solar panels, and more. For a complete list of eligible upgrades and more details on how to apply to the program, visit sprucegrove.org/CEIP.