Sunstone Credit, a commercial solar loan platform that helps businesses switch to clean energy, financed a $5 million, 2.8 megawatt (MW) project portfolio for King Energy, an energy solutions provider for commercial multi-tenant properties. The project financed the installation of solar systems that serve 60 tenants across seven retail shopping centers, a majority of which are located in low and medium-income communities.
The $5 million financing provided by Sunstone Credit enabled King Energy to provide low-cost renewable energy to tenants ranging from national chains to locally owned businesses, including salons, restaurants and coffee shops.
“This project is unique because it makes solar energy accessible to businesses that might not be able to afford it otherwise,” Josh Goldberg, co-founder and CEO of Sunstone Credit, said. “Our financing, coupled with King Energy’s ability to offer property owners and their tenants discounted solar energy services and consolidated payments, democratizes access to solar while driving a clean, green future for all.”
“Making solar simple and financially beneficial for our customers is our main goal,” John Witchel, CEO of King Energy, said. “Working with Sunstone to finance this project helped us implement solar quickly, accelerating cost savings and renewable energy benefits almost immediately.”
