Sunwealth and Climate First Bank Partner to Expand Community Solar Across the U.S.
Community-based solar and storage is getting a boost. Sunwealth has secured a $20 million line of credit from Climate First Bank to finance commercial solar and battery storage projects for small businesses, nonprofits, schools, houses of worship, and other community organizations.
This partnership comes at a pivotal moment for the solar market, and Chris Cucci, Chief Strategy Officer at Climate First Bank, sees this as a moment to scale up solar lending.
"This strategic investment is a win-win — expanding impactful renewable energy projects across the country while supporting affordable housing and community development."
Sunwealth plans to deploy the credit over the next year to support projects in California, Texas, Massachusetts, New York, Maine, New Mexico, Connecticut, and the District of Columbia, aiming to expand access to renewable energy while creating local jobs.
Jon Abe, Sunwealth CEO, emphasizes the long-term stability of community-based solar:
"This investment will accelerate our work to build a better energy future, driven by the power of impact investing. We are leading a generational transition toward renewable energy."
Sunwealth’s 70 kW DC carport project which is currently under construction in Fremont, CA at Echo Church.
This $20 million credit facility will help Sunwealth develop roughly 14 megawatts of renewable energy, adding to the more than 70 megawatts already managed by the firm across 18 states and D.C., and generating significant lifetime energy savings for customers.
This collaboration between a forward-looking small bank and a mission-driven solar firm demonstrates how creative financing can keep renewable energy growth on track, even as federal policy shifts. Read more about this exciting partnership through the links below.
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