New legislation will allow municipalities to establish PACE programming to support homes and businesses with renewable energy and energy efficiency upgrades
The Government of Alberta has recently tabled Bill 10: An Act to Enable Clean Energy Improvements
to provide municipalities with the ability, on a voluntary basis, to establish PACE programs. PACE provides a mechanism for property owners to finance affordable energy efficiency, renewable energy and water conservation projects or upgrades to a property though the property owner’s municipal tax bill.
What are the benefits of PACE?
- Reduces financial barriers associated with high upfront costs for energy-related property improvements.
- Provides an opportunity for longer-term repayment periods and lower interest rates.
- The assessment is tied to the property and not the owner.
- Supports the development of small-scale renewable energy generation and greater energy efficiency.
Under Bill 10, eligible projects would include solar power, upgraded insulation, windows, and doors, as well as high-efficiency heating and cooling systems. PACE improvements could be made to residential, commercial and agriculture property. It would not apply to designated industrial property.
Municipalities will have the option to implement PACE programs at their own discretion.
For more information on PACE and Bill 10, click here
For enquiries, please contact:
Matt Dow Policy Analyst matt@RMAlberta.com
Tasha Blumenthal Director of External Relations & Advocacy tasha@RMAlberta.com