Nevada Clean Energy Fund Expands Access to Financing in the State through C-PACE
Reno, NV – The Nevada Clean Energy Fund (NCEF) has been selected as the Commercial Property Assessed Clean Energy (C-PACE) program administrator for the City of Wells and the City of Carlin, expanding on NCEF’s existing role as an investor in C-PACE projects across the state. NCEF also launched a new, statewide C-PACE website—nvcpace.com—to help stakeholders throughout Nevada more easily access and navigate C-PACE financing opportunities.
C-PACE is a policy-enabled mechanism that commercial properties can use to unlock financing for energy, water, and resiliency improvements. By tying repayment to a special tax assessment on the property, C-PACE can catalyze low-cost, private investments for building improvements such as high-efficiency HVAC systems, solar PV, battery storage, insulation, efficient lighting, and other qualifying upgrades. During the past 20 years, over 30 U.S. states have enabled C-PACE legislation, allowing local jurisdictions to establish C-PACE markets with a collective, cumulative deal volume now exceeding $10 billion.
There are over 31,000 commercial and multifamily buildings in Nevada that could benefit from C-PACE financing, 5% to 7% of which require HVAC system replacements each year and many more of which struggle to meet local building codes. Without a mechanism such as C-PACE, many building owners face deferred maintenance and chronically high operating and energy costs.
Nevada passed legislation enabling C-PACE in 2017. Since then, 13 of Nevada’s 36 municipalities have implemented C-PACE markets. By adding Wells and Carlin to the list of Nevada C-PACE jurisdictions, the state continues to build a more resilient, affordable, and competitive energy future. As the C-PACE administrator for Wells and Carlin, NCEF will help these cities attract new private investment, upgrade buildings, and lower energy costs for businesses in rural Nevada.
“Wells is focused on attracting investment that respects our history while building a stronger future for our residents and businesses,” said City of Wells Mayor Gary Pollock. “Partnering with NCEF to launch a C-PACE program gives our commercial property owners a powerful new tool to finance energy and building upgrades, create local jobs, and keep more dollars circulating in our community.”
“Carlin’s businesses play a critical role in supporting Nevada’s as well as our local economy, and reliable, efficient buildings are essential to that work,” said City of Carlin Mayor Cameron Kinney. “With NCEF as our C-PACE administrator, we can offer property owners a practical way to invest in modern equipment and building improvements that lower operating costs and support the long-term vitality of our city.”
“These partnerships with Wells and Carlin are exciting steps in our work to bring the benefits of C-PACE to communities of all sizes across Nevada,” said Kirsten Stasio, CEO of NCEF. “By combining local leadership with NCEF’s financing expertise, we can help property owners upgrade aging buildings, reduce energy bills, and invest in projects that strengthen economic development in Nevada.”
NCEF’s new C-PACE website is designed as a one-stop hub for Nevadans. The site provides clear, user-friendly information tailored to property owners, capital providers, contractors, and local governments, including program eligibility, step-by-step process guides, example project types, and key documents and forms needed to participate in C-PACE.
“Our goal with the new C-PACE website is to make it as easy as possible for Nevadans to understand how C-PACE works and to move good projects from idea to reality,” added Clayton Reed, Managing Director of Business Development at NCEF. “Whether you are a rural main street business, a large commercial property owner, or a local government considering C-PACE adoption, we want this platform to help you find the information and partners you need.”
NCEF’s expanding C-PACE platform complements its broader portfolio of programs that leverage public and private capital to lower energy costs for Nevada households, businesses, and communities. Learn more and apply for funding on NCEF’s website: https://nevadacef.org/.
About Nevada Clean Energy FundThe Nevada Clean Energy Fund (NCEF) is a nonprofit organization that supports a thriving, affordable, and accessible clean energy economy by providing financial and technical resources to Nevadans. NCEF was created by state legislation in 2017 to serve as Nevada’s green bank. NCEF implements programs for diverse stakeholders, including households, affordable housing developers, tribes, nonprofits, schools, local governments, and rural communities.