Solaria Corp., a provider of solar module technologies, and CleanFund Commercial PACE Capital, a commercial property-assessed clean energy (C-PACE) financier, have partnered to offer long-term financing for commercial building-integrated photovoltaics (BIPV) projects. BIPV, which Solaria commonly refers to as “architectural solar,” incorporates solar technology into the building structure itself in order to generate energy.
According to the partners, the new SolarPACE offering is designed to maximize cashflow, with terms up to 30 years, and it can solve most credit challenges found in commercial solar project financing, as C-PACE is secured by a parcel tax assessment with payments billed through ordinary property taxes.
“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.”
“Solaria is privileged to partner with the leading provider of a nationwide financing platform that makes building improvements affordable for commercial property owners,” says Udi Paret, general manager of building solutions at Solaria Corp. “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.”