Okotoks, AB: At the regular meeting May 10, Council approved the Clean Energy Improvement Program (CEIP) bylaw, authorizing Okotoks to participate in the Alberta-based Property Assessed Clean Energy (PACE) program.
CEIP will allow property owners to obtain low-interest loans through the municipality for energy efficiency improvements to their property, such as increased insulation, energy efficient appliances (like furnaces, hot water heaters) or adding solar panels.
“Residents will be able to upgrade their homes for the same amount or less than they would have been paying on their energy bills. It will also bring six jobs to Okotoks, as well as decrease the Town’s greenhouse gas emissions by almost 10,000 tonnes”, says Sheri Young, Energy Specialist at the Town.
Introducing the CEIP will not impact taxes for residents. For the four-year residential pilot, the program will be funded through grants and low-interest financing from the Federation of Canadian Municipalities.
Administration will now begin developing an action plan based on the recommendations. Further details will be provided in fall 2021 after the program has been finalized, and funding is in place.