Financing your upgrades with CEIP makes sense
Alberta’s Clean Energy Improvement Program (CEIP) provides financing to residential and commercial property owners to make energy efficiency and renewable energy upgrades more affordable.
This innovative financing approach, also known as Property Assessed Clean Energy (PACE), is garnering successful results in municipalities across Canada. Alberta municipalities must past a bylaw and choose to implement the program; property owners located in these municipalities can choose to apply.
In Alberta, CEIP offers competitive financing to cover up to 100 per cent of project costs and makes repayment convenient through your property’s regular tax bill.
CEIP offers competitive rates with long repayment terms available (up to 20 to 25 years depending on the project type and participating municipality’s terms and conditions), and can be repaid at any time.
Energy efficiency and renewable energy upgrades help decrease energy use and increase the comfort of the property. CEIP requires all eligible upgrades be installed using a Qualified Contractor.
Tied to the property, not to you
This type of financing ties the Clean Energy Improvement Charge to the property, not the property owner. If the property is sold, the new owner can assume repayment (and enjoys the benefits!). In certain circumstances (like a condition of sale) you may need to pay off the balance owing at the time of sale.
How CEIP works for residential property owners
CEIP is a new way to finance energy efficiency upgrades or renewable energy installations. Property owners can finance projects with a competitive interest rate, repayment terms of up to 20 to 25 years (depending on the type of upgrade and participating municipality’s terms and conditions), and have the option to pay the project off at any time. Repayment is made through their regular property tax bill.
What separates CEIP from other financial products: the Clean Energy Improvement Charge is tied to the property, not the property owner.
CEIP is delivered by the Alberta Municipal Services Corporation (AMSC) in partnership with participating municipalities across Alberta.
Application intake in participating municipalities will begin Summer 2021.
- Pre-qualifyComplete and submit the Pre-qualification Form. This will be available once the program has launched in participating municipalities.
- Project ApplicationOnce pre-qualified, complete your NRCan Home Energy Evaluation and with report in-hand choose your upgrades. Select a Qualified Contractor from our directory (to launch in Summer 2021), getting at least three quotes. Complete and submit the Project Application Form and required supporting documents.
- AgreementsOnce your project is approved, sign the Clean Energy Improvement Agreement and the Project Agreement.
- InstallationYour Qualified Contractor will install your upgrades. Complete and submit an Upgrade Completion Form with required supporting documents. Then you will complete a post-retrofit NRCan Home Energy Evaluation.
- RepaymentOnce approved, we will pay your contractor. You’ll see the total project cost added to your property’s tax bill as a Clean Energy Improvement Charge.