What is C-PACE?
Commercial Property Assessed Clean Energy (C-PACE) is a tool that can finance energy projects on commercial properties.
Like other project financings, C-PACE uses borrowed capital to pay for the upfront costs associated with qualified energy efficiency, renewable energy, or water efficiency improvements that are permanently affixed to the property. The capital provider is repaid through an assessment.
Watch a webinar on the Clark County C-PACE Program.
How does it work?
You will start with the online Clark County C-PACE Project Center portal where one of our C-PACE team members will walk you through the steps.
To take advantage of the Clark County C-PACE Program, property owners develop qualifying energy and water conservation projects with contractors of their choice. Commercial property owners then arrange C-PACE Financing with a Qualified C-PACE Program Lender and, if applicable, acquire Mortgage Lender Consent. Next, the property owner applies to qualify their project for C-PACE financing according to the program requirements. If the C-PACE project is approved, the borrower and C-PACE lender enter into a C-PACE financing agreement.
C-PACE financing provides:
- Low-cost, upfront financing that covers up to 100 percent of project costs.
- Long repayment periods.
- Reduced energy consumption and operating expenses.
- Upgraded, more efficient and modern systems.
- Immediate return on investment/positive cash flow.
- Increased net operating income and property value.
- C-PACE projects greater than $500,000.
- Option, upon sale, to transfer financing to the new owner.
C-PACE financing is sourced from an open lending market and repaid directly to the lender.
(may include but not limited to)
Energy Efficiency Improvements
- Automated Building Control Systems (BMS)
- Automated Energy Management Systems (EMS)
- Building Envelope Improvements: Walls, Roofs, Floors and Foundations
- Furnaces, Boilers & Chillers
- Pumps, Motors, Fans & Variable Speed Drives
- Windows and Door Systems to Reduce Energy Consumption
- Energy Recovery Systems
- Elevator Modernization Projects
Renewable Energy Improvements
- Solar Energy
- Geothermal Energy
- Water Power
Water Efficiency Improvements
- Low Flow Fixtures
- High-efficiency toilet retrofits
- Efficient showerhead retrofits
- Waterless and high-efficiency urinal retrofits
- Converting a sports field from grass to an artificial surface
- Retrofitting standard cooling towers with qualifying, high-efficiency drift elimination technologies