CleanFund, the #1 specialty direct provider of long-term PACE financing for renewable energy, energy efficiency, water conservation and seismic improvements to commercial properties in the U.S., and Soligent, the largest-volume B-to-B pure play distributor of solar system products in the U.S., have entered a partnership to help solar equipment dealers sell more solar energy systems to commercial building owners.
More specifically, CleanFund has entered into an agreement with Solar Engine, a Soligent entity, to finance the purchase and installation of solar panel systems for commercial, multifamily, nonprofit and other nonresidential buildings in the U.S. Dealers and installers who are members of the Soligent network can now access CleanFund's SolarPACE financing programs for their prospects and customers to drive growth in sales of solar systems.
The CleanFund/Soligent partnership comes as President Obama last week reiterated the Administration's support for PACE as an effective mechanism to finance energy efficiency and renewable energy improvements to buildings.
"Our new partnership program with CleanFund can greatly help solar dealers grow commercial solar systems sales by making cost-effective financing readily available to property owners," said Jeremy Doochin, Vice President of Business Development at Soligent. "Soligent dealers now have another powerful tool to help expand the market for commercial systems."
CleanFund's new SolarPACE program was designed specifically for solar project financing and enables commercial property owners to achieve immediate positive cash flow, with a financing term of up to 30 years to match the expected life of solar PV systems. "Our capital will help Soligent dealers close more commercial sales," said Brandon Deno, Vice President of Solar at CleanFund. "It's a mutually beneficial partnership."
About CleanFund Commercial PACE Capital
CleanFund Commercial PACE Capital is the #1 direct provider of long-term financing for energy efficiency, water conservation, renewable energy and seismic improvements to commercial, multifamily and other nonresidential properties in the U.S.
With significant expertise in commercial real estate, finance, renewable energy and PACE policy, CleanFund is a direct provider of capital for Property Assessed Clean Energy (PACE), a financing structure adopted in 32 states and the District of Columbia that allows property owners to repay investments for building upgrades and new construction on their property tax bill.
CleanFund has the largest dedicated commercial PACE team in the industry. The Company's PACEDirect™ financing program enables property owners to install modern energy and water technology with no up-front cost, increasing property cash flows and value. CleanFund's SolarPACE™ financing for commercial property owners enables immediate positive cash flow, with a financing term of up to 30 years.
Soligent is the largest pure play solar distributor, financier and technology platform in the Americas. Soligent supplies over 5,000 solar installers with best-in-class panels, inverters, racking and balance of systems across the U.S. and over 45 countries. Founded in 1979, Soligent has been a pioneer in the solar industry for decades and continues to drive the market forward with innovative solutions ranging from materials management to project financing. With advanced training, a diversified product offering, and multi-site distribution centers across the U.S., Soligent is well positioned as a responsive, flexible equipment partner.
About Solar Engine
With a team dedicated to Soligent's nationwide network of installers, Solar Engine is a value-added service platform offering expert financing services, generous credit terms, and system design and permit packages.