Renewable Energy Program Results and OpportunitiesSolar program results and next steps in financingDecember 5, 2019

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Agenda• Introduction to Energy Efficiency Alberta• Residential and Commercial Solar Program (RCSP) results

and achievements• Solar financing opportunities – Property Assessed Clean

Energy (PACE)• Solar financing opportunities – Green Loan Guarantee

Program• Q&A

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Energy Efficiency AlbertaEnergy Efficiency Alberta is the province’s expert on saving energy through efficiency – the most cost-effective energy source.

Designing, promoting

& delivering programs

Growing the industry

Raising awareness

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Solar Program Results

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Ol’ Macdonald Campground• Erskine (Buffalo Lake)• 172 kW system with multiple ground and rooftop arrays

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Canadian Blood Services• Northeast Calgary• 551 kW of installed capacity

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Aurora Cannabis Ltd.• Cremona• 664 kW of installed capacity

Commercial RCSP Project

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What is PACE?Property Assessed Clean Energy• An innovative and affordable

financing solution • Leverages the security and

stability of the municipal property tax system

• Supports a property owner’s repayments for clean energy investments

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Benefits of PACE

• Low-cost, upfront financing for the full project cost

• Utility bill savings• Greenhouse gas emissions

reductions• Increased property values due to

upgrades

• Long repayment periods (>20 years)• Transferability to new owners• Overcoming split incentive between

landlord and tenant• Job creation and economic activity• 100% voluntary

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PACE in CanadaNova Scotia – enabling legislation in 2010• Programs in five municipalities • Project volumes remain low (~50 projects,

average of $8,500 pp)• Halifax’s “Solar City” program is the largest

Ontario – enabling statute in 2012• Toronto’s Home Energy Loan Program was

launched as a pilot in March 2014• Expected to approach 1,000 applications in 2020 –

more than $20M in financing

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Alberta’s ApproachClean Energy Improvement Program• Provides property owners with access to financing for energy

efficiency and renewable energy projects• Repayment through municipal property taxes• Participation is 100% voluntary• Enabled by Provincial legislation• Municipalities must pass local bylaws to enable CEIP (PACE) in

their community

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Participant EligibilityTo be eligible for financing through the Clean Energy Improvement Program, you must be: The legal owner of the property Current on property tax payments Current on mortgage payments associated with the property (if

applicable)

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Project Eligibility The energy efficiency or use of renewable energy must be expected to

increase as a result of the project All measures must be permanently affixed to the property Any incidental costs must not exceed 15% of the total capital costs of the

project• Example measures include:• HVAC upgrades• Water heating• Solar

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Green Loan Guarantee Program • Guarantee for up to 50% of loan• Guaranteed amount based on emissions reductions potential • Work with eligible lenders• Financing for clean-tech, renewables, energy efficiency projects• owner’s repayments for clean energy investments

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GLGP Loan AmountsEmissions Profile / Abatement Potential Maximum Guarantee per

Loan Indigenous community $25 million Small emitter (emitting less than 10,000 tonnes of greenhouse gases annually) $10 million

Medium emitter (emitting between 10,000 and 100,000 tonnes of greenhouse gases annually) $25 million

Large emitter (emitting 100,000 tonnes or more of greenhouse gases annually) $50 million

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Questions?

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Contacts:Jennifer D’Aoust, Program ManagerEnergy Efficiency AlbertaJennifer.daoust@efficiencyalberta.ca

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