A WORLD CHANGING GREEN INITIATIVE
PACE originated in the USA in 2008, and in 2009 was named "one of the top 20 world changing ideas" by Scientific American magazine. PACE's popularity and growth has been exponential, and since 2008 it has financed over 280,000 home and commercial retrofits with over 8.4 billion dollars, and created over 136,000 jobs; all without one penny of taxpayer support (PACE Market Data).
PACE financing has established itself as a proven financial tool in the USA which is dramatically accelerating the implementation of GHG reducing measures in residential and commercial buildings. Key to the program's success is a recognition that it is both a financing tool and an ecosystem.
The tool is an innovative way of financing the measures with no money down and with the debt transferring to purchasers on resale making it uniquely attractive to both homeowners and businesses.
The ecosystem harnesses the power of the profit motive in service of the public sustainability agenda and creates an army of "volunteer" PACE advocates and champions who help promote, educate and sell the client on the merits of upgrading their home and business facility. For details on what a best practice based PACE program looks like, read the Canadian Home Builders Association brief on PACE (Keys to Developing a Successful PACE Financing Program)
IMAGINE A WORLD WHERE RENEWABLE AND ENERGY EFFICIENCY BUILDING UPGRADES ARE PROFITABLE FOR BUSINESSES AND AFFORDABLE FOR HOMEOWNERS
PACE CREATES THAT WORLD
Property Assessed Clean Energy (PACE) is an innovative financing tool which building owners and developers can use to upgrade their building's energy performance, install renewable energy systems and reduce resource consumption with no money down and with the financing repaid through their property's tax bill. In the USA, PACE financing capital primarily comes from private investment sources.
PACE Alberta 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 Alberta 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.