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What does ACE stand for?

ACE stands for Alternating Current Electronics

This definition appears somewhat frequently

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Other Resources: Acronym Finder has 365 verified definitions for ACE

Samples in periodicals archive:

Find out how to deal with alternating currents in your electronics projects so that you stay safe while you're having fun. Dummies.com can show you the basics of electrical currents.
This is the electronics questions and answers section on "Alternating Current and Voltage" with explanation for various interview, competitive examination and entrance test. Solved examples with detailed answer description, explanation are given and it would be easy to understand.