Cold Lake, AB – The Clean Energy Improvement Program (CEIP) is coming to Cold Lake.

CEIP is a financing program designed to help residential property owners pay for energy efficiency upgrades and renewable energy installations to their home. The City of Cold Lake has been approved for a grant of $627,600 and a loan of $1,255,280 from the Federation of Canadian Municipalities to use toward the program.

“We’re very excited to launch this innovative program,” said Mayor Craig Copeland. “We’re hoping to have local contractors get on board, so residents can take advantage of the program.”

Through the program, property owners can borrow funds from the City at a very low interest rate to pay for eligible clean energy upgrades that will help reduce energy costs. Participants conveniently repay the financing through their property taxes and, if they sell their property, the financing can be transferred to the new owners who will continue enjoy the benefits of the upgrades.

The program offers a low interest rate of 3.1 per cent, with borrowing terms of up to 20 years. A rebate of $580 is also being offered by the City for each completed CEIP project. A wide range of upgrades are eligible, including doors, windows, insulation, furnace, water heating, solar energy systems, and more.

The City would like to remind property owners and interested contractors that all contractors are required to become a CEIP Qualified Contractor in order to install CEIP upgrades. Contractors can visit the Alberta Municipalities’ CEIP website to submit the no-cost application.

CEIP is administered in partnership with Alberta Municipalities, which represents Alberta’s 265 urban municipalities, including cities, towns, villages, summer villages, and specialized municipalities, as well as associate and affiliate members.

The program will open on Feb. 27 for applications. More information can be found on our CEIP page.

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