The Government of Canada is working with municipalities in Alberta and across Canada to make it easier for retrofits to take place, as well as unlock sustainable jobs and take climate action.
Recently, Jonathan Wilkinson, Minister of Natural Resources, and Taneen Rudyk, president of the Federation of Canadian Municipalities (FCM), announced a $25.6 million investment in four Alberta municipalities, delivered through the Community Efficiency Financing initiative (CEF). This investment will help these municipalities to implement new home energy retrofit financing programs in their communities across Alberta.
“Municipalities experience the drastic impacts of are on the front lines of climate change and communities of all sizes are showing leadership at a time when we need it most,” said Rudyk. “The Green Municipal Fund empowers local governments to deliver results with our federal partners – supporting municipalities across Alberta build greener, more sustainable communities, creating jobs and helping Canadians make their homes more comfortable and affordable. Together, we are on the path to net-zero.”
The City of Calgary, City of St. Albert, City of Lethbridge, and Town of Canmore are receiving $15,000,000, $5,017,400, $3,814,300, and $1,622,960,respectively to implement energy retrofit financing programs for residential properties.
The grants and loans from Green Municipal Fund (GMF) will allow each municipality to establish a program and begin lending to homeowners. The Clean Energy Improvement Programs (CEIP) will utilize the Property Assessed Clean Energy (PACE) financing mechanism. Homeowners can repay the cost of their home energy projects over time through a CEIP charge added to their property tax bills. The CEIPs will be administered by Alberta Municipalities, the association representing urban municipalities in Alberta.
The Alberta Ecotrust Foundation, a Low Carbon Cities Canada partner for both the City of Calgary and the City of Edmonton, receives $140,700 through CEF to look at the feasibility of complementary financing models to CEIP, such as home energy retrofit programs that provide access to capital, and are led by qualified contractors who encourage and support homeowners already planning home renovations or upgrades, to include energy retrofits in their plans.
The Government of Canada is pleased to financially support the FCM Green Municipal Fund, which offers the Community Efficiency Financing initiative. CEF helps communities of all sizes implement innovative local financing programs like Property Assessed Clean Energy (PACE), utility on-bill financing and third-party lending partnerships.
By leveraging these existing models, CEF helps communities by providing capital to homeowners to make their homes more energy-efficient, while creating local jobs and keeping the economy moving. Since the launch of CEF in 2020, GMF has also invested in Clean Energy Improvement Programs in the cities of Edmonton and Leduc, and the towns of Devon and Rocky Mountain House.
CEF is one of the ways GMF continues to build on its 20-year record of supporting transformative environmental initiatives at the community level. The Government of Canada has invested $1.65 billion in GMF since its inception, enabling municipalities to support projects like this that leverage local resources to drive innovative solutions.
“Climate change has serious implications for our city both now and into the future. Calgary City Council is committed to taking action on important climate initiatives, but we must work collectively as a city to make real progress. This fund will open the door for Calgarians to make their homes more energy efficient, reduce their carbon footprint and save money,” said City of Calgary Mayor Jyoti Gondek.
Featured image credit: Government of Alberta.