renewable energy program results and opportunities
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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
Let’s stay in touch
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