WHO IS PACE CANADA?

PACE Canada is a private non-profit education and advocacy organization. We are dedicated to dramatically reducing Canada's GHG footprint through the establishment of a dynamic and thriving PACE ecosystem in Canada.

We promote and help facilitate the development and delivery of Residential and Commercial PACE programs through the provision of consultancy services and the dissemination of PACE information and resources.

 

In other words: we make it easy to reduce a building's eco-footprint.

 

Our mission is to create a sustainable future by making energy efficiency and renewable energy upgrade measures affordable to all Canadians.

 

Our vision is for every building in Canada to be optimized with renewable energy and energy efficiency measures to achieve net-zero performance - and for PACE financing to be the tool that makes the measures affordable to all.

 

PACE Canada is advocating for the creation of a thriving and dynamic Canada wide PACE ecosystem based on proven PACE lessons, best practices, and successes from the USA. Properly structured, Canada's PACE ecosystem will transform the economics of sustainability and make a significant impact on the climate change challenge.

PACE canada's vision

PACE Canada is promoting a PACE program which is based on proven best practices and incorporates the following fundamentals.

Note: Click here to open a simple one page summary of What is PACE?

 

  • PACE is voluntary for all parties involved

  • PACE programs are opt in for municipalities

  • PACE financing covers 100% of a project’s hard and soft costs

  • PACE provides long financing terms (up to 30 years based on expected life of upgrades)

  • PACE financing is repaid via a tax assessment which is filed with the local municipality as a tax lien on the property

  • PACE financing balance does not accelerate in the event of a tax payment default or foreclosure; only the outstanding annual tax assessments become due and payable

  • PACE can be used in conjunction with other incentive programs

  • PACE program investment capital can come from either or both private and public sources

  • PACE financing can be used to pay for measures which:

    • reduce energy consumption

    • generate renewable energy

    • reduce water consumption*

    • reduce waste through installation of long life durable finishes and systems*

  • PACE financing is available to all qualifying buildings and applications and include:

    • single detached residential

    • multi-family residential

    • commercial buildings

    • institutional buildings

    • agricultural buildings

  • PACE financing is available to both retrofit existing buildings and upgrade new construction projects

  • PACE financing is available to building owners to refinance existing PACE qualifying measures*

  • PACE financed projects are permanently affixed to a property

PACE Canada is proposing that the PACE program delivery agencies (PACE Administrators) be:

  • Structured as a not-for-profit corporation;

  • Capable of partnering with any municipality which opts in;

  • Mandated to be independent, self financing and self perpetuating once the initial set up/start up costs are covered.

SUPPORTERS