5/28/2011
Yet another green energy initiative looks to be coming to the city of Vancouver.
On Tuesday, city staff will recommend that council proceed with a pilot project that would see the city along with several partners loan 500 homes, $10,000 each towards energy retrofits.
Vancouver councillor Andrea Reimer says Vancity Credit Union would contribute up to five-million dollars for the project, with those participating paying back the loan over time with the money they save on their energy bills.
"When we talk about green buildings, people often think about new buildings and the standards they should be built to, and that's great and important. But really if we're going to make a significant impact over the next decade, it is absolutely going to be by retrofitting the buildings we have."
Reimer says the city itself would also set aside half a million dollars in a loan-loss reserve, in the case of loan defaults.
