On April 12, 2018, Minister of Municipal Affairs, Shaye Anderson, introduced legislation to empower municipalities to give Albertans access to financing to cover the cost of energy efficiency and renewable energy products through PACE (Property Assessed Clean Energy). If passed, this legislation will enable property owners to repay the cost of energy efficient, renewable energy and water conservation upgrades through a special assessment placed on their property tax bill. PACE assessments are typically secured by a lien on the property, which is filed with a local government. Importantly, and unlike many other types of property assessments, the use of PACE is voluntary for all parties involved—ranging from local municipal governments who authorize the use of PACE in their jurisdictions, to the individual property owners who elect to use PACE for property upgrades.
It is anticipated that Energy Efficiency Alberta will be the Program Administrator, providing facilitation and coordination for homeowners, businesses, municipalities, contractors and financial institutions.
While the legislation is being tabled this spring, it’s expected to come into effect early in 2019.
Once the legislation is passed, Energy Efficiency Alberta will work with the Alberta Climate Change Office on PACE program design.
We look forward to supporting municipalities, contractors, financial institutions, building owners, developers, engineers, architects, builders and solar installers as together we bring PACE to Albertans.