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PACE Financing and Resilience in BC

This technical paper reviews best practices Commercial Property Assessed Clean Energy (C-PACE) programs throughout the US and how they are being leveraged to address resilience challenges in the built environment.

The report was developed through expert interviews with existing PACE loan providers and by synthesizing academic and grey literature from across the US. Findings confirm that C-PACE programs throughout the US allow for large-scale resilience-building improvements, and that this is a growing sector of investment and business development in key PACE markets such as like California, Florida, and Texas.

To maximize the effectiveness of a program like this for Vancouver and BC, both legislative and programmatic design for PACE will need to create flexibility for different types of resilience interventions and avoid overly prescriptive lending requirements. A successful program in Vancouver has the opportunity to help address billions of dollars in needed spending on resilience and climate action in the coming decades.

Authors: Jessica Shoubridge, MAP, Thrive Consulting
Commissioned by: George Patrick Richard Benson, Manager, Economic Transformation

With editorial support by George Benson, Claire Campbell, Sonu Purhar and Ingrid Valou.

Published: May 26, 2021

Focus Category: Green Economy
Published: May 26, 2021

Land Acknowledgement

The Vancouver Economic Commission respectfully acknowledges that it is located on the unceded territories of the xʷməθkʷəy̓əm (Musqueam), Sḵwx̱wú7mesh (Squamish), and səl̓ilwətaɁɬ (Tsleil-Waututh) Nations.

Vancouver Economic Commission