CleanFi First FinTech Recognized in DOE’s American-Made Solar Prize Competition
CleanFi provides the first platform where $50,000 to $5 million renewable energy projects can get instant, competitive proposals from dozens of qualified lenders
LOS ANGELES (PRWEB)
28 September 2022
Renewable energy financial technology (FinTech) innovator CleanFi has been recognized by the US Department of Energy (DOE) for its software solution to accelerate the deployment of job-creating, money-saving renewable energy, energy efficiency, storage and building resilience solutions that combat climate change across small to mid-sized commercial building landscapes .
CleanFi is the first FinTech to be recognized as part of DOE’s multi-million-dollar American-Made Solar Prize competition, which traditionally focuses on hardware and software innovations in support of US-based solar manufacturing. It is the first commercial platform where projects under $5 million can receive immediate competitive proposals from a range of qualified funders.
CleanFi is a free, easy-to-use online portal that uses a simple 120-second process to match specific project improvement requests to a range of qualified, interested funders. The service is free for contractors, project developers, property managers and building owners across all asset classes interested in clean energy, storage and building improvements. It’s also free for the range of eligible financing sources that sign up for the platform across all 50 states, including traditional commercial lenders, specialty lending, power purchase agreements (PPAs), capital leasing and Community Development Financial Institutions (CDFIs). Since its inception in July 2021, CleanFi has delivered more than $230 million in total project financing options to 400 site subscribers (and growing).
CleanFi’s software innovation addresses two solar growth challenges found in today’s commercial construction sector. The first is that money-saving solar energy and efficiency improvements on small and medium-sized commercial industrial buildings lag far behind the residential and commercial sectors. The second is that commercial lenders have historically focused on larger commercial projects, despite the fact that 90% of America’s six million commercial buildings are less than 50,000 square feet.
“Our solution provides the first platform where $50,000 to $5 million renewable energy projects can get instant, competitive proposals from dozens of qualified lenders,” said CleanFi Founder and CEO Philippe Hartley.
“The scope of opportunities CleanFi addresses represents the lion’s share of the 152 GW of untapped commercial solar capacity identified by the global research consultants at Wood Mackenzie,” continued Hartley. “And it’s a project starter for the 10,000 U.S. solar entrepreneurs who need help selling into the commercial building sector.”
CleanFi’s 900% growth trajectory demonstrates its ability to deliver an important catalyst for greenhouse gas (GHG) reduction across the country. According to the Center for Climate and Energy Solutions (C2ES), fossil fuel combustion associated with residential and commercial buildings accounts for approximately 29 percent of total US greenhouse gas emissions, making CleanFi’s mid-sector commercial building mass solution a critical component for municipalities. climate action and greenhouse gas reduction targets as well.
About CleanFi: CleanFi is a free, online platform designed to provide contractors, property owners and project developers with instant, competitive, qualified financing requests for money-saving renewable energy improvements. In approximately 120 seconds, CleanFi delivers geography- and asset-class-specific project financing proposals in the $50,000 to $5 million range from a growing pool of over 40 qualified lenders. CleanFi’s portfolio of available financing solutions utilizes traditional commercial, special lending, power purchase agreements (PPAs), capital leasing and Community Development Financial Institutions (CDFIs). CleanFi is a 2022 PACE Setter Award winner and a finalist in the 2022 US Department of Energy’s American-Made Solar Prize competition. To learn more, visit CleanFi.com.
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