Builiding Integrated Photovoltaics (BIPV) just got a little more affordable. CleanFund Commercial PACE Capital, formed a financing partnership with Solaria Corp. to offer long-term financing for its building skin technology. 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 into commercial projects.
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, 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, SolarPACE enables build-ing 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 warran-tied ‘powered-by-Solaria’ architectural solar products.”
— Solar Builder magazine