Over half of Canmore’s greenhouse gas (GHG) emissions are from existing buildings. The Clean Energy Improvement Program (CEIP) is designed to reduce those emissions through energy efficiency improvements and scaling up renewable energy. A CEIP for Canmore will provide financing to property owners to enable energy efficiency and renewable energy upgrades for residential and possibly commercial properties.
CEIP programs make energy efficiency upgrades more attainable by removing upfront cost barriers for homeowners and businesses. Residential and potentially commercial property owners can access flexible financing to pay for upgrades aimed to increase energy efficiency, harness renewable energy, and make spaces healthier and more comfortable.
Local participation in the program is enabled through the adoption of a clean energy improvement tax bylaw. This allows the town to provide the upfront financing for eligible clean energy projects and recover those costs by levying a clean energy improvement tax on the participating property. The property owner pays for their clean energy project through an extra assessment added to the municipal property tax bill (similar to existing local improvement charges such as street or lane paving) and will make repayments in accordance with a schedule that corresponds to the useful life of the measure(s) installed. Typically, the energy savings resulting from the retrofit or renewable installation can cover a large portion of the cost of the additional levy on the tax bill.
Property owners can receive financing for up to 100 per cent of project costs, with terms that could extend up to 25 years. The repayment process is simple and streamlined. By applying the clean energy improvement tax to the property, the repayment obligation is transferable from one property owner to the next. Participation in the program is entirely voluntary for both municipalities and property owners.
More information on the program and the application form will be made available at a future date if the program is approved.