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Conergy And Demeter Launch PACE Solar Leasing

Friday, May 29, 2015 5:01:00 AM PDT | VentureDeal

   San Francisco, California  --  Solar technology companies Conergy and Demeter Power have announced the launch of a new commercial leasing program in California.

Called PACE (Property Assessed Clean Energy), the financing structure provides access to solar installations by collecting third-party-owned solar revenues as a property tax assessment.

The new program leverages the CaliforniaFIRST PACE Program, administered by Renew Financial.

Commercial property owners can receive solar system installations without any capital investment on their part, lower their utility bill and potentially provide excess energy to the grid.

The companies highlighted the first beneficiary of this new financing structure as the Tiburcio Vasquez Health Center. The center received a 200 kW solar system that will offset up to 90% of the energy consumed from the grid.

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