The city of Las Vegas’ Commercial Property Assessed Clean Energy (CPACE) program is an innovative tool that helps commercial properties finance energy efficiency and renewable energy projects. C-PACE is designed to help qualifying commercial, industrial, and multifamily (with five or more units) property owners access long-term financing for the installation of qualifying energy- efficiency improvements and renewable energy projects.
C-PACE financing is supplied by private capital providers in an open market and the terms are based on the useful life of the improvements and can extend up to 25 years. The financing itself can cover up to 100 percent of a building’s project cost and often requires no money down.
C-PACE is also available to commercial real estate developers who design and construct new buildings as can be applied retroactively for projects that were done anytime after its approval by the City Council on November 7, 2018.