Online financing marketplace a finalist in the Department of Energy’s Solar Prize
BOULDER, CO, May 04, 2022 /24-7PressRelease/ — The US Department of Energy unveiled 10 finalists that will vie for the prestigious 2022 American-Made Solar Prize (Round 5 – Software), and among them is a potentially disruptive online financing marketplace, CleanFi.com. The online platform offers a way for any legitimate financier to compete for funding environmental upgrades to US commercial buildings. Competition between funders leverages massive US capital resources, uniquely cultivating an effective green marketplace online for funders and contractors alike.
Upgrading the US commercial building portfolio through carbon-reduction and environmental resiliency improvements will require significant and diverse forms of private capital. Various cities and states are starting to impose strict mandates for new building standards. The US Department of Energy’s Better Buildings program estimates that hundreds of billions, perhaps even trillions of dollars will need to be invested. CleanFi.com aims to bring down the cost of those upgrades by fostering competition between funders focused on that market. The online platform offers a competitive marketplace for a variety of financing mechanisms that address the large and diverse capital requirements for upgrading US buildings.
CleanFi was designed for contractors, building owners, and commercial real estate managers. The web-based platform delivers qualified financing options in response to specific inquiries in minutes, then allows the user to instantly apply for their preferred financing option. Originally built around Commercial Property Assessed Clean Energy (C-PACE) financing, CleanFi.com is the first ever website to map all of the regions in the US that offer C-PACE financing. That mechanism uses the property tax system as a collection method to entice private funders to finance long-term loans. “Unfortunately, C-PACE’s still fragmented coverage across the country makes it largely inaccessible for many commercial and multi-family projects, so we have expanded our platform to include a geographically and technically diverse set of financing solutions. We now bring massive capital heft to compete on this platform,” explains Philippe Hartley, Founder and CEO of CleanFi.com.
With the varying financial needs of both funders and contractors for projects below 10 million dollars, CleanFi’s diversification of financial products empowers users with increased opportunity to find the right financing mechanism and funding features for their project. As CleanFi CTO Morgan Hartley said, “We now have an open platform that allows all funders to compete within a growing diversity of mechanisms, and we are reaching out to all funders, especially equity mission financiers, to invite them onto the platform so we can deliver least cost, best option financing to users everywhere.”
The platform’s intention is to be project-centric rather than funder-centric; enabling inclusive funders to increase green renovations for all the buildings across the nation that require them, thus decreasing the cost of upgrading US buildings via competition in financing.
CleanFi is a free-to-use financing marketplace, oriented toward contractors, building owners, building managers, project developers who need competitive funding options for commercial building improvements. Hundreds of improvements are financeable through single financing agreements. Learn more at about.cleanfi.com/ or visit cleanfi.com to get an assessment on your property for free.
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