The City of Charlottetown has received funding from the Federation of Canadian Municipalities to offer homeowners PACE (Property Assessed Clean Energy) loans for home energy upgrades. This funding is currently offered through the Switch Charlottetown program at 0% interest. The increasing uptake of this program makes it difficult to predict when government funds will be fully allocated to upgrade projects. As of today (May 31st), our best estimate is that funding at this interest rate will remain available for 8-10 months. Watch this space for bi-weekly updates.

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CBC News P.E.I. | Energy efficiency loans to be made available for Charlottetown, Stratford residents

$14 million investment to help reduce greenhouse gas emissions

Ottawa and the Federation of Canadian Municipalities announced money Wednesday to help Charlottetown, Stratford, P.E.I., and Wolfville, N.S., with programs to lower greenhouse gas emissions.

The $14 million investment will go toward residential projects for energy efficiency, renewable energy and energy storage across the three municipalities.

The money will make it so consumers don’t have to pay up front for those upgrades.

To get started, homeowners will have to undergo a home energy assessment, which is free. They’ll then pay back whatever they borrow through the program with low interest monthly payments.

It can also be used on things covered by Efficiency PEI’s program.

Additional programs in Wolfville and Charlottetown will provide rebates to support fuel-switching from oil and lead pipe replacement.

Another $175,000 in funding is going to Charlottetown to study the feasibility of doing energy retrofits for 22 of its municipal buildings.

Charlottetown Mayor Philip Brown said the city is committed to doing its part to combat climate change.

“We know that many people struggle to make the upfront investment required to install a heat pump, explore solar options or renovate their homes in sustainable manners.”

Officials said the program, with websites for each community, will be launched next month. They say the plan is to start with Charlottetown and Stratford and expand to other municipalities in the future.