NDP nixes upfront costs with new home energy upgrade program - solar street lights for sale
Regular cash-
Alberta people
This is the target audience for a new home energy upgrade program announced by provincial officials on Thursday.
The previous rebate plan was for homeowners to pay thousands of dollars in advance and take back a portion of the cash.
This one allows them to start saving from the first day, no upfront costs, slow repayment of investment through low cost
Interest financing.
"My feeling is that there is a huge depression.
Edmonton Mayor Don Iverson said he announced the news along with municipal minister Shaye Anderson and the industry representative.
Anderson proposed legislation on Thursday to make this financing
It is called the property to evaluate clean energy or speed.
He said the ministry will work with municipal authorities, industrial and financial leaders to develop regulations this summer to allow these projects to start in January.
Municipal support is also needed for the project.
It may be managed by Alberta, the provincial energy efficiency agency, but homeowners will pay through their municipal Property Tax Act.
The funds will be linked to the upgraded property, just like the homeowner's contribution to the new sidewalks and street lights during the renewal of the block.
Just like the sidewalk charge, it stays in the hotel when the house or business is sold.
These regulations will determine which upgrades are eligible, but possible examples include better insulation, replacement of leaking windows, replacement of stoves or addition of solar panels.
Anyone can add solar energy today, but it will take 15 years or more to get back the investment and start getting free energy, said David Dodge, Alberta president of energy efficiency.
The program will use private capital from a bank or pension fund partner to pay for the fee.
Then, part of the monthly energy saving is immediately handed over to the homeowner --
Spend it on groceries or anything
Some of the money will be returned to investors over time.
Iveson said the interest rate is expected to be low because the money spent increases the value of the property and taxes are also guaranteed through taxes.
"It is attached to the property.
This is as safe as we can get.
"This financing model has been used in 33 US states, including Ontario and Nova Scotia, and several Canadian jurisdictions.
It is expected that the cost of this province will be very low.
Maintained after the initial administrative setup cost.
Dodge said acceptance depends on how the program is implemented, whether advertising is good, and how easy it is to get financing.
But Monica Curtis, Alberta's executive director of energy efficiency, came to Alberta after developing a successful project in Wisconsin, saying, hopefully, this will ensure that Alberta is able to move from other
Estolte @ postmedia. comtwitter.