SOLARIA AND CLEANFUND COMMERCIAL PACE CAPITAL PARTNER TO OFFER LONG-TERM FINANCING, FIRST FOR ARCHITECTURAL SOLAR PROJECTS
SolarPACETM Program Lowers Project Costs for Commercial Property Owners Aiming for Net Zero Energy
SAUSALITO, CA and FREMONT, CA, JUNE 13, 2017 – CleanFund Commercial PACE Capital, the leading Commercial Property Assessed Clean Energy (C-PACE) financier, and Solaria Corporation, global provider of solar module technologies, have formed a C-PACE financing partnership making the integration of solar technologies into the building skin more affordable. By providing commercial building owners access to Solaria’s customizable product line, along with the benefits and flexibility of C-PACE financing, this SolarPACETM collaboration maximizes the availability of long-term incentives to developers who implement architectural solar (aka - Building Integrated Photovoltaics - BIPV) into commercial projects.
“We aim to partner with companies that are driving the adoption of innovative clean energy solutions,” said Joshua Kagan, Vice President of Sales at CleanFund. “This is no exception - Solaria is paving the way for the mainstream adoption of architectural solar. And, with SolarPACETM financing, the decision to incorporate this technology is now more accessible than before.” Commercial building owners who seek to incorporate architectural solar into their projects benefit from the building skin generating energy, which offers a compelling return-on-investment, along with multiple advantages that improve occupant wellness and comfort.
SolarPACETM is designed to maximize cash flow, with terms up to 30 years. It can solve most credit challenges found in commercial solar project financing, since C-PACE is secured by a parcel tax assessment with payments billed through ordinary property taxes. Owners often have the option to pass all or a portion of the C-PACE payments to tenants, who also benefit from lower energy costs. With flexible options to utilize solar tax credits, SolarPACETM enables building owners and developers to stay within project budgets and lower overall project costs.
“Solaria is privileged to partner with the leading provider of a nationwide financing platform that makes building improvements affordable for commercial property owners,” said Udi Paret, GM Building Solutions, Solaria Corporation. “Now we can offer customers a viable option for funding and installing an architectural solar system, especially important for net zero energy projects. This is a significant competitive advantage for our industry partners who offer their own warrantied ‘powered-by-Solaria’ architectural solar products.”
For more information, please visit http://go.cleanfund.com/Solaria.
About CleanFund Commercial PACE Capital
CleanFund Commercial PACE Capital is the leading direct provider of long-term financing of Property Accessed Clean Energy ("PACE") for energy efficiency, water conservation, renewable energy and seismic improvements to commercial, multifamily and other nonresidential properties in the U.S. CleanFund's SolarPACETM financing product typically delivers the highest Net Present Value ("NPV") and greatest near-term positive cash flow of any solar financing option. For more information, please visit www.CleanFund.com.
About Solaria Corporation
Solaria Corporation is a solar technology company that is paving the way for distributed, clean power generation through optimized solutions for a range of applications. Leveraging its proven core technology, field performance and sophisticated automation, Solaria delivers solutions that address a unique set of requirements for the rooftop and architectural solar markets. Solaria’s cell technologies enable leading glass fabricators to adopt solar technologies into their product offering. In turn, providing builders, developers and architects aesthetically pleasing, easily integrated, highly customizable residential and commercial solar products that can help enable net zero energy buildings. Solaria headquarters are in California. For more information, please visit www.solaria.com.
Alice Reeve, Marketing Director
Nandita Geerdink, Resolution Communications for Solaria