January 11, 2016 - 4:24 PM
PENTICTON - The City of Penticton’s Energy Retrofit Loan Program has proved to be very successful as it moves into its final year of operation.
A status update on the program will be presented to Penticton City Council at tonight’smeeting, Jan. 11, with an alternative option to look at extending the program for another year.
A report by Electric Utilities Manager Shawn Filice says the program, which has been operating since 2013, has so far met 71 per cent of its energy savings after only spending 41 per cent of its budget.
The program has achieved an estimated 142,643 kWh of energy savings against a targeted goal of 200,000 kWh. Only 177 applications have been received against the program’s goal of 400.
Filice’s report also notes the program has been low risk with no city customers defaulting on loan payments to date.
The average loan is to replace windows and doors or to replace water thanks and furnaces. Continuing the program is technically cost neutral and has no adverse effect on the budget or the electric utility reserve account.
Council will also be selecting a project to put forward for eligibility in the New Canada Building Fund - Small Communities, in addition to looking at a report on vacant lots in the downtown core.
A report by staff outlining a parking strategy work plan for the city also comes before council tonight.
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News from © InfoTel News Ltd, 2016