SwitchPACE CIC

What SwitchPACE CIC does

SwitchPACE CIC is a Halifax, Nova Scotia-based Community Interest Corporation that operates as a third-party administrator of Property Assessed Clean Energy (PACE) programs for Canadian municipalities. It serves municipal governments by designing, launching, and servicing tax-lien-financed retrofit and rooftop solar programs on their behalf, and it serves homeowners and small commercial property owners by providing access to long-term, on-tax-bill financing for energy upgrades. The company is the de facto pioneer of PACE in Canada, with operating roots dating to 2010 and a corporate entity dating to 2020; it reports $20M+ in cumulative program activity, 1,000+ retrofitted homes, 1,100+ projects, and a zero-default rate across its portfolio.

The core product surface consists of municipal program design, contractor coordination across an 80+ partner network, and loan origination and servicing supported by a proprietary CRM that integrates municipal permitting workflows and tracks project KPIs. The company has expanded beyond single-family residential projects with its Switch Multi-Owner Property Cover (MOPC) program and now offers commercial solar lending up to $250,000 per project. Active programs are deployed in Halifax (HalifACT, launched April 2026), West Hants, Wolfville, Charlottetown, Stratford, and Pictou County, in partnership with efficiency agencies in Nova Scotia, PEI, New Brunswick, and Newfoundland and Labrador.

SwitchPACE generates revenue through three mechanisms: (i) a roughly 5% administration fee on originated loan capital, (ii) interest income where it retains the yield on funded loans (e.g., 6.45% in West Hants, with 0% programs in PEI funded by FCM grants), and (iii) program design and setup fees paid by municipalities at launch. Capital for on-lending is sourced primarily through a $14.1M award from the Federation of Canadian Municipalities' Green Municipal Fund, supplemented by municipal capital pools and emerging private capital partnerships. The CIC structure locks mission-orientation into the charter but constrains conventional equity financing.

Name

SwitchPACE CIC

Legal name

SwitchPACE CIC

Website

https://switchpace.org

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

11–50 employees

Short description

SwitchPACE CIC is a Halifax-based Community Interest Corporation that administers Property Assessed Clean Energy (PACE) programs for Canadian municipalities, enabling residential and commercial property owners to finance energy retrofits and rooftop solar installations through municipal tax-lien financing.

Ownership category

akta.pro rank

Product category

Clean Energy Financing and PACE Program Administration

akta.pro industry

PRIMARYEUAGAEAA

Retail Energy Brokerage (Residential & SMB Switching)

Energy, Utilities & Environment/Energy Trading, Marketing & Retail Supply/Energy Brokerage, Aggregation & Switching Services

Keywords

• PACE program administration
• Clean energy financing
• Residential energy retrofits
• Property assessed financing
• Third-party program administrator

Headquarters

HQ city

Halifax

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Third-Party Administration Fees: SwitchPACE serves as third-party administrator for municipalities, providing program design, policy, marketing, administration, QA/QC, measurement and validation, financing and billing and collection. Revenue is generated through administration fees built into loan amounts (e.g., 5%+HST administration fee included in financed amount).
2. Loan Interest Income: Revenue generated from interest on financing provided to homeowners. For current programs, interest rate is 6.45% fixed for loan term. Previous programs offered 0% interest loans funded by FCM grants.
3. Program Design and Consulting Services: Fees for feasibility studies, funding application assistance, bylaw development, legal framework preparation, service agreements, local policies, and program reporting services to municipalities.
4. Loan Servicing Fees: Financial services and software to help manage loans in program portfolios, including banking functions, accounting, and compliance reporting for municipal finance departments.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

SwitchPACE CIC provides turn-key third-party administration of PACE (Property Assessed Clean Energy) programs for Canadian municipalities, covering program design, policy, marketing, administration, QA/QC, measurement and validation, financing, billing, and collection. Homeowners access home energy upgrades such as heat pumps, solar panels, insulation, windows, and EV chargers through financing repaid via property tax bills, guided by a dedicated Energy Concierge.

Product overview

SwitchPACE CIC is a community interest corporation that serves as a third-party administrator of PACE (Property Assessed Clean Energy) programs for Canadian municipalities. The company's core offering is turn-key PACE program administration comprising program design, financing, marketing, administration, and measurement/validation services. Their portfolio includes branded regional programs: Switch West Hants, Switch Charlottetown, Switch Stratford, Switch Wolfville, and Switch MOPC (Municipality of Pictou County), plus the HalifACT Home Energy Upgrade Program with Halifax. The company differentiates through its Energy Concierge Service that provides personal guidance to homeowners throughout the upgrade process, combined with contractor management, rebate alignment, loan servicing, and program development support. They focus on energy efficiency and solar retrofits including heat pumps, solar panels, insulation, windows, and EV chargers, enabling homeowners to finance upgrades through property-assessed loans with repayment through municipal billing.

Differentiator

Problem solved

Functional benefit

Brands

• Switch Charlottetown: Energy efficiency and renewable financing program for Charlottetown homeowners offering zero-interest loans for heat pumps, solar panels, insulation, and other upgrades.
• Switch Stratford
• Switch Wolfville
• Switch West Hants
• Switch MOPC
• HalifACT Home Energy Upgrade Program

Products and services

• Switch West Hants PACE financing program for homeowners in the Regional Municipality of West Hants, offering up to $40,000 or 25% of property value (whichever is lower) for energy efficiency upgrades such as heat pumps, solar panels, insulation, and windows, with a fixed 6.45% interest rate over 10-15 year terms.
• Switch Charlottetown Zero-interest PACE financing program for City of Charlottetown homeowners, offering loans up to 15 years for home energy upgrades including heat pumps, solar panels, and insulation.
• Switch Stratford Zero-interest PACE financing program for Town of Stratford (PEI) homeowners, offering loans up to 15 years for home energy upgrades including heat pumps, solar panels, and insulation.
• Switch Wolfville PACE financing program for Town of Wolfville (NS) homeowners, offering up to $40,000 or 15% of assessed property value for energy efficiency upgrades.
• Switch MOPC (Municipality of Pictou County) PACE financing program for Municipality of Pictou County homeowners, offering fixed interest rate financing up to $40,000 or 15% of property assessed value over 10 years, including commercial solar and battery financing up to $250,000 for local businesses.
• HalifACT Home Energy Upgrade Program PACE financing program in partnership with Halifax Regional Municipality targeting pre-2000, owner-occupied, oil-heated residential properties, aiming for 50% reduction in household energy use through heat pumps, insulation, and electric water heaters.
• Energy Concierge Service Personal customer service assigning knowledgeable, service-driven Energy Concierges to guide homeowners from start to finish through the energy upgrade project, including contractor selection, project planning, financing process, and rebate navigation.
• Program Design & Development Turn-key PACE program development for municipalities including feasibility studies, funding applications, bylaw development, legal framework preparation, service agreements, and local policy articulation.
• Loan Servicing Back-office financial services for PACE program portfolios including dedicated program bank accounts, pre-authorized payments, monthly statements, payment collection, contractor payments, delinquency follow-up, and financial reporting for municipal finance departments.
• SwitchPACE Commercial Solar Financing Commercial solar and battery installation financing product offering up to $250,000 in financing over 10 years for businesses in the Municipality of Pictou County, with expanded 15-year solar loan terms.

Quantifiable outcome

• 45% average GHG reduction per home (5.72 tonnes CO2/year)
• +7 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Seven partnerships are on record, tiered core and supporting.

• Halifax Regional MunicipalitycoreStrategic or Co-development PartnerHalifax partnered with SwitchPACE to launch the HalifACT Home Energy Upgrade Program in April 2026, targeting pre-2000 oil-heated homes for 50% energy reduction. Part of Halifax's broader HalifACT climate plan.
• Regional Municipality of West HantscoreStrategic or Co-development PartnerWest Hants partnered with SwitchPACE for the Switch West Hants program offering heat pumps, solar, insulation, and windows with 10-15 year financing at 6.45% interest.
• Municipality of Pictou CountycoreStrategic or Co-development PartnerLaunched Switch MOPC program in September 2023 addressing climate crisis while helping homeowners live more affordably. Includes new commercial solar financing up to $250,000.
• Stewart McKelveysupportingImplementation/ SI/ Consulting PartnerLargest law firm in Atlantic Canada providing legal services for PACE program governance, legal frameworks, and service agreements. Part of SwitchPACE's robust ecosystem of program partners.
• Efficiency Nova ScotiasupportingStrategic or Co-development PartnerNova Scotia's efficiency agency collaborates with SwitchPACE for energy literacy and homeowner assistance. SwitchPACE aligns program goals and designs with provincial efficiency programs.
• Efficiency PEIsupportingStrategic or Co-development PartnerPEI's efficiency organization works with SwitchPACE to find ways to build energy literacy and assist homeowners with efficiency decisions. Programs are aligned with current federal and provincial programs.
• Solar Nova ScotiasupportingStrategic or Co-development PartnerRenewable energy organization collaborating with SwitchPACE on solar adoption initiatives and homeowner education in Nova Scotia.

Scale indicators15 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• PACE Equity: US-based PACE financing provider and program administrator offering HERO-style residential and commercial energy retrofit financing. Closely parallels SwitchPACE's turnkey third-party administration model.
• CleanFund Commercial PACE Capital: US PACE financing and program administration company serving commercial and multifamily retrofits with property-assessed clean energy financing. Comparable focus on program design, financing, and administration services.
• Ygrene Energy Fund: One of the largest US PACE financing companies, funding residential and commercial energy efficiency and seismic retrofits through property-tax assessments. Directly comparable business model to SwitchPACE's PACE financing and program administration.
• PACE Nation: US PACE program administrator providing back-office program management, financing coordination, and compliance services to municipalities. Most direct analog to SwitchPACE's third-party administrator role.
• Greenworks Lending: Commercial PACE financing company underwriting and originating C-PACE loans for energy efficiency, renewable energy, and seismic projects in the US. Comparable PACE capital provider model.

Others

• Vancity Community Investment Bank (VCIB): Canadian values-based bank active in PACE and climate financing, featuring SwitchPACE publicly. Adjacent enabling capital partner rather than competitor — illustrates the private capital ecosystem SwitchPACE is entering.
• Efficiency Canada / Efficiency Nova Scotia: Provincial efficiency organizations that SwitchPACE explicitly partners with. Adjacent ecosystem participants shaping retrofit demand, rebates, and program alignment rather than direct PACE competitors.

Broad incumbents

• Renovate America (HERO): Historic US leader in residential PACE financing via the HERO program before restructuring. Provides a benchmark for both the scale PACE can achieve and the operational/regulatory risks facing the model.

Emerging players

• revolV: US nonprofit enabling community solar and energy efficiency financing through crowdfunding. Mission-aligned emerging player in the community clean-energy financing space adjacent to PACE.

Regional players

• FortisBC Energy Efficiency Programs: British Columbia-based utility-administered energy efficiency and retrofit incentive programs. Comparable Canadian regional program administering rebates and upgrades, though not a PACE financing structure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/switchpace-cic

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SwitchPACE CIC