Rocky residents can soon take advantage of Clean Energy Improvement Program
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The borrowing bylaw passed in 2019 by the Town of Rocky Mountain House for the Clean Energy Improvement Program (CEIP) has increased the line of credit to encompass the entire four-year term of the program to make use of a new FCM grant.
The CEIP provides an opportunity for commercial and residential property owners within the town to make energy improvements to their property. Residents will borrow from the town and pay it back over the lifetime of the improvement at a lower rate than they would get through a bank.
The components of the new grant will include coverage of some of the administrative costs incurred by assisting applicants to pay all or part of the costs for the pre and post energy audits and a small grant for the improvement.
A stipulation of the new grant is that a municipality takes out the entirety of four-year line of credit, which in this case will be $3.2 million for Rocky. This amount will allow for 10 residential applications of up to $30,000 each and 10 commercial applications for up to $50,000 each.
