SASKATOON – The Saskatoon City Government is offering a loan program that will allow homeowners to make their properties more energy efficient.
“This is a unique program – the loans provided by the City are attached to the property being renovated or refurbished and would be reimbursed by the owners’ property taxes,” Jeanna South, director of sustainability, said in a statement. .
“Loans are attached to the property and not to the person, so the loan can be passed from owner to owner if the property is sold.”
The proposed Home Energy Loan Program (HELP) will be presented to the Standing Committee on Environment, Utilities and Corporate Services Policy on Monday.
If approved, HELP will provide loans for energy retrofits or renewable energy installations for single family home owners.
Examples include window and door replacements, solar panel installations, upgrades to heating and cooling systems, or adding insulation.
South said the program is designed to benefit the community in several ways beyond addressing climate change in Saskatoon and nationally.
According to a report for the committee to consider At Monday’s meeting, “low cost” loans could range from $ 1,000 to $ 40,000.
Under the pUnder the proposed program, a loan of $ 60,000 might even be possible if 50% or more energy efficiency was achieved relative to pre-retrofit performance.
“It will help homeowners pay for home renovations that will lower energy bills, make those renovations financially accessible, help make homes more comfortable, and boost Saskatoon’s economy, especially in the construction and energy sectors.” renewable.
If approved by city council, an application will be made through the Federation of Canadian Municipalities and bylaw development will continue with the goal of launching HELP later in 2021.