PACECanada

Mission Statement: "All buildings in Canada are designed, built, and renovated to achieve their highest level of energy efficiency performance, with the goal of dramatically reducing and ultimately eliminating their GHG footprint". PACE is a financing tool which is transforming the sustainability ecosystem in the USA and Europe, dynamically accelerating the implementation of energy efficiency and renewable energy improvements. In 2009 Scientific American magazine declared PACE to be a "Top 20 World Changing Idea", PACE marries two powerful motivators: the desire to do good and the desire to make money. By 2021, PACE had financed over 9 billion dollars in GHG reducing improvements. The data confirms that when properly structured, PACE significantly contributes to economic diversification and job creation, and addresses the climate change file, all without the need for any grants or subsidies. Properly designed PACE programs and legal frameworks are required to create the right environment for the PACE ecosystem to thrive. In 2016, PACE Alberta, a not-for-profit education and advocacy organization, began championing for the development of a "made in Alberta" PACE program, modeled on the best practices and experiences in the USA. As a result, enabling legislation was passed into law in January 2019, thus adding Alberta to the growing list of provinces and territories with PACE enabling legislation. Interest in PACE Alberta subsequently spawned the creation of PACE Canada. PACE successfully removes the key barriers to broad adoption of energy efficiency measures by Canadians: capital cost and capital risk. Building owners are thus motivated to upgrade their buildings because they can access 100% of the upfront capital for renewable energy and energy efficiency improvements and realize a multitude of potential benefits including: net positive cash flow, comfort, reputation, marketing advantage, rent-ability, healthier work environments, and indoor air quality.