GHG Emissions, Commercial, Solar  -  August 28, 2024

Seven California Shopping Centers Add Solar

The King Energy solar project will span seven retail shopping centers in California, including locations in Reedley, Stockton, San Mateo, Bakersfield and Half Moon Bay. 

The solar installations will produce between 20% to 80% of the energy needs at each location.

Sunstone Credit, Inc., a commercial solar loan platform, announced it  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 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.

King Energy uses virtual net metering to optimize power sales across all tenants. Their proprietary software, King Energy OneBill, consolidates utility and solar energy payments into a single, seamless transaction. This system simplifies billing and incentivizes tenants to join the solar program by offering discounted solar energy services, further enhancing solar energy's appeal.

“Making solar simple and financially beneficial for our customers is our main goal,” said John Witchel, CEO of King Energy, in a statement. “Working with Sunstone to finance this project helped us implement solar quickly, accelerating cost savings and renewable energy benefits almost immediately.”