Relatively new to the market in Nevada, Property Assessed Clean Energy (PACE) financing offers a novel mechanism to fund energy-efficiency improvements and renewable energy projects together with certain associated administrative expenses.
Such projects must be located on qualifying commercial or industrial real property, which may include a residential project comprising five or more dwelling units. A qualified, private capital provider issues the financing, which is then secured by an assessment lien created by a local government and recorded against the participating land.
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