Existing Building Retrofit Projects
The Las Vegas C-PACE program requires1 that each proposed project undergoes third-party technical review and eligibility approval by the program administrator. Final project eligibility determination will be subject to the program administrator’s review of the applicant’s energy audit/renewable energy feasibility study and compliance with the terms and conditions as described in the Program Guide, Project Technical Standards and Review section.
Moreover, existing building retrofit projects must be designed (by a C-PACE registered contractor or project developer) such that the estimated energy cost savings, over the effective useful life of the qualified energy efficiency improvements and/or renewable energy project, exceeds the financing amount, i.e. the savings-to-investment ratio (“SIR”) be greater than one.
Upon completion of its technical review, the purpose of which is to validate the energy savings projections are consistent with best practice methodology as defined in the Program Guide, and the projected SIR is greater than one, the program administrator will issue a project eligibility report.Back to Top
New Construction Projects
Given the lack of a pre-improvement energy baseline against which to measure energy savings and the difficulty of isolating and assigning portions of the new construction costs to particular energy savings, the traditional methodology for existing building retrofit projects to compare projected savings against a baseline is not applicable for new construction projects.
Therefore, the Las Vegas C-PACE program requires an alternative quality assurance method for each proposed new construction project. Such methodology, as described in the Program Guide, New Construction section, serves as the basis for the program administrator’s third-party technical review, eligibility approval, and determination of the amount of allowable C-PACE financing.
Upon completion of its technical review, the purpose of which is to validate that the building’s as-designed modeled energy performance (submitted by a C-PACE registered project developer) will meet or exceed the Las Vegas energy code requirements (IECC 2018/ASHRAE 90.1-2016), the program administrator will issue a project eligibility report. Such report will determine the eligible C-PACE finance amount, up to a maximum of 20% of the total eligible construction cost.
1 Implemented in accordance with the City of Las Vegas Resolutions R-60-2018 and R-61-2018.