PACE Alberta August Update


  • PACE enabling legislation was enacted on June 11, 2018. PACE financing is now covered by Bill 10 An Act to Enable Clean Energy Improvements.
  • According to the government website, over the coming months:
    • the government is consulting with municipalities, lenders, real estate associations and other stakeholders to develop a guiding regulation in the summer of 2018
    • the regulation will be brought back for approval in the fall of 2018
    • the government is working with Energy Efficiency Alberta to design a PACE program, including tools to assist municipalities, in the summer of 2018
    • The legislation is expected to come into force in early 2019.
  • Residential (R-PACE) and Commercial (C-PACE) will likely have different processes for applications and approvals.  The C-PACE program will probably be approved first with the R-PACE program to follow.
  • The target for funding an initial project is still the first quarter 2019.
  • PACE Alberta is actively working with a PACE investment firm here in Alberta (PACE Originator in financing parlance) who are looking at setting up a consortium of private investors with a target of creating a $200 million fund which would finance PACE Projects.
  • Meetings have been held with both the RMA and AUMA to solicit their assistance in getting municipalities to buy-in and create the enabling by-law that is required under clause 390.3 of the revised Municipal Government Act. RMA=Rural Municipalities of Alberta. AUMA=Alberta Urban Municipalities Association.
  • PACE Alberta is participating in an event on August 28 from 3:30 to 8:15 called Moonlight in the Meadows, The Alberta Council Of Technologies.
  • Regional, All-industry, Summer Networking BBQ.  To find out more visit their website: https://abctech.ca/event/moonlight-in-the-meadows/. If you plan to attend, be sure to stop by our tent and say hi.
  • To help support and raise awareness about PACE and the PACE Alberta Vision, we invite you to follow, like and share the PACE Alberta social media posts on Facebook, Linkedin, Twitter, and the PACE Alberta Blog.  Doing so will not only help promote and accelerate the uptake for the Alberta PACE program, but will also help you prepare for and be ready to take full advantage of the PACE program once it is available in your municipality.

PACE Alberta is also working to develop a portfolio of PACE financing ready projects. If you are interested in participating in this initiative, please submit your interest here.

We will see you next month.

Yours towards a Green Alberta,
PACE Alberta Co-op Ltd.

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