WASHINGTON, Nov. 1, 2017 - The Solar Energy Industries Association (SEIA) and Alta Energy jointly released a white paper highlighting an underutilized financing tool to boost commercial and industrial (C&I) solar development nationwide. The tool – Commercial Property Assessed Clean Energy (C-PACE) – allows a property owner to finance 100 percent of the cost of solar and/or energy efficiency upgrades as a voluntary property tax assessment on a commercial building for 10-30 years and can be easily transferred to new owners, the paper notes. “Without a doubt, C-PACE has the potential to vastly expand solar markets across this country and we hope developers seriously consider it as a viable option moving forward,” said Mike Mendelsohn, SEIA’s senior director of project finance and capital markets. In 2016, C&I solar development represented approximately 6.5 percent of the total U.S. solar market. SEIA says C-PACE could both strengthen existing C&I markets and help expand development to more than 4.5 million new properties across the U.S.
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