CleanFund Commercial PACE Capital, a Commercial Property Assessed Clean Energy (C-PACE) financier, and Solaria Corp., 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 SolarPACE collaboration maximizes the availability of long-term incentives to developers who implement architectural solar (Building Integrated Photovoltaics, or BIPV) into commercial projects.
“We aim to partner with companies that are driving the adoption of innovative clean energy solutions,” says 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 SolarPACE 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.
SolarPACE is designed to maximize cash flow, with terms up to 30 years. It can solve most credit challenges found in commercial solar project financing because 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, SolarPACE 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,” adds Udi Paret, general manager, Building Solutions, Solaria. “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.”