SolarPACE ™SolarPACE provides long-term, fixed-rate financing designed with features and flexibility specifically for the demands of commercial property owners. SolarPACE enables immediate positive cash flow, with a financing term of up to 30 years to match the expected life of a solar PV system.
Save as you go with SolarPACE financing
CleanFund’s SolarPACE™ financing has been designed with features and flexibility specifically for the demands of commercial property owners. SolarPACE enables immediate positive cash flow, with a financing term of up to 30 years to match the expected life of a solar PV system.
SolarPACE financing allows the property owner to benefit from the significant tax incentives available for solar PV system ownership. In the event of a property sale, SolarPACE financing will automatically transfer to a new property owner, along with the future cash flow benefits.
SolarPACE works well for multi-tenant and single-tenant commercial properties. The property owner receives the tax benefits, with tenants benefiting from lower energy costs. Both the owner and tenants can receive a portion of the overall positive cash flows with SolarPACE.
Key features of SolarPACE
- Long-term, 100% financing that matches the life of a solar PV system
- Tax incentives of PV system ownership can be directly captured by property owner
- Positive cash flows, immediately and increasing over time
- Automatic transfer of financing to new owner upon a sale of property
- Shared benefits between owners and single or multiple tenants in leased properties
How SolarPACE works
SolarPACE is based on state and local government programs that allow property assessed clean energy (PACE) financing to be recorded as a special property tax assessment.
PACE programs rely on capital providers like CleanFund to finance environmentally beneficial construction projects. This allows property owners to repay the financing along with their ordinary property tax payments.
CleanFund has used its deep experience in real estate, finance, and clean energy to optimize SolarPACE financing specifically for commercial property owners. SolarPACE financing approval is based primarily on the value of the property, not on the credit of a business or property owner.
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