The Alberta energy industry has the most stringent environment laws in the world. We are world leaders in the safety and protection of the environment.
But it is both environmentally and economically prudent to diversify our energy sector with green energy.
The solution isn’t to sabotage our existing industry. This will not accomplish any green energy diversification, in fact it will decrease it. If we are destroying our existing industry, we are also damaging our economy and means of production. How can we afford to diversify when we are struggling economically? The answer of course, is that we can’t.
The solution is to have a low cost, efficient, and effective, systematic increase in green energy production. We need the Alberta Freedom Party’s PACE initiative. PACE means Property-Assessed Clean Energy. It will provide the financing for Alberta home owners to install solar panels on their property.
This isn’t a grant, or a subsidy. It is a loan, that will be paid back via an assessment added to the recipient’s property tax. The person who is benefiting from the reduced power cost with the solar panels will be the one paying for it, not their neighbours.
The funds for the grant can be provided by Alberta financial institutions, such as ATB Financial, Servus Credit Union or others. The government has no need to go into debt for this program. Like CMHC, the government will create a crown corporation that will back the loan for the financial institution for a one time premium of 3.15% (Exact same structure as CMHC). Unlike CMHC, the loan to value ratio will not be a factor for this loan.
The loan can be amortized over 30 years.
- This will increase the amount of energy in Alberta which is green. It will also decrease our dependency on non-green energy. Eventually, it is possible that EVERY home could have this.
- The Alberta Freedom Party PACE Initiative will create jobs. Only Alberta companies using Albertan Employees will be eligible for this program.
- It isn’t mandatory. It is voluntary. Only people that want to participate will.
- It isn’t paid for by tax payers. It is not a grant or a subsidy. It is a loan. The recipient who benefits from the lower power will, will be the one that is paying it back.
- Each recipient will save money.
- Unlike a mortgage, the loan is paid back via an assessment on the property taxes. So if the owner wants to sell the property before the cost is paid back, the new buyer does not need to assume or be re-approved for this loan. The new buyer will enjoy the reduced power bill, and will continue to repay the loan via the assessment on that property’s property tax