Accessing affordable financing is one of the largest barriers property owners face when deciding to invest in energy efficiency and renewable energy upgrades. Individuals may not have the money up front or are worried about selling the property before getting their investment back.
The Clean Energy Improvement Program, is Alberta’s approach to Property Assessed Clean Energy (PACE), which will make it easier for property owners to overcome these barriers. Property owners will be able to install renewable energy and make energy efficiency upgrades by paying for the improvements over time through their property taxes.
The Clean Energy Improvement Program:
- Provides 100 per cent up-front financing for individuals
- Stimulates and diversifies a community’s economy by supporting businesses that provide energy efficiency and renewable energy services
- Revitalizes building stock and boosts property values
- Helps property owners decrease their energy costs, avoid increased debt loads, and ensure their property is equipped with energy-efficient upgrades using a network of qualified contractors.
Legislation to enable a Clean Energy Improvement Program became effective in the province on January 1, 2019. We are now in the process of finalizing program design details by leveraging best practices from successful PACE models in jurisdictions across North America.
The Clean Energy Improvement Program Pilot Project
We know this is a highly anticipated program and we want to make sure we get it right. To accomplish this, we’re launching a pilot program with the City of Edmonton. This pilot will allow us to compile key learnings, address issues and make enhancements in preparation for a full-scale, province-wide launch of the Clean Energy Improvement Program (timeline below).
A Municipal Advisory Council has been formed to provide strategic insight and guidance, support the identification of priorities, and facilitate dialogue and information sharing over the course of the pilot. This council consists of rural, urban and suburban municipal government representatives from across the province who have expressed explicit interest in the program.
A Clean Energy Improvement Program guide for Municipalities will be available in Winter 2019. This document will provide details on program inclusions as well as clear guidelines and processes on how to effectively implement a municipal Clean Energy Improvement Program.
For more information regarding the Clean Energy Improvement Program, please send us an email at email@example.com.