The Solar Energy Industries Association (SEIA) has announced the release of two documents designed to spur investment in commercial solar projects.
According to the group, the first document is a contract that combines the benefits of a power purchase agreement (PPA) with Property Assessed Clean Energy (PACE) to provide customers with a valuable new financing option.
“The PACE PPA further builds out SEIA’s suite of model contracts so all solar transactions can be efficiently negotiated and financed,” says Mike Mendelsohn, SEIA’s senior director of project finance and capital markets. “Our goal is to broadly open the U.S. commercial real estate sector for solar deployment, and the PACE PPA is a valuable tool to allow that progress to happen.”
SEIA notes it would like to thank Ballard Spahr and CleanFund Commercial PACE Capital, Inc. for their leadership in the document development. The PACE PPA document and SEIA’s other model contracts and leases are available here.
The second document, co-authored by SolarKal, is an educational report designed to explain the value of on-site solar to commercial property owners. According to the report, “Solar Energy & Commercial Real Estate (CRE): Insights for Your Investment Property,” solar systems can allow commercial property owners to raise rents, lower operating expenses, negotiate lease extensions, and increase the net present value, or NPV, of their buildings.
Both documents were developed by SEIA’s C&I Working Group, which is focused on creating solutions for the commercial and industrial sectors.