Press Release: CollectiveSun Joins the U.S. Department of Energy Better Climate Challenge as a Financial Ally

The company has committed to finance $25 million in renewable energy projects.

FOR IMMEDIATE RELEASE

SAN DIEGO, CA — September 17, 2024 — CollectiveSun, a company dedicated to assisting U.S. nonprofits and tax-exempt organizations in funding solar projects, is proud to announce its partnership with the U.S. Department of Energy’s Better Climate Challenge. 

The Better Climate Challenge is a national leadership initiative calling on CEOs, university presidents, and state and local leaders to reduce greenhouse gas emissions, create jobs, and promote healthy, safe, and thriving communities. The program challenges organizations to set ambitious, portfolio-wide greenhouse gas emission reduction goals, providing opportunities for peer exchange and technical assistance to meet the urgent call to mitigate the impacts of climate change.

As a Financial Ally in the Better Climate Challenge, CollectiveSun has committed to finance $25 million in renewable energy projects to help drive the transition to a clean energy economy. CollectiveSun joins a group of 40 Financial Allies, market-leading financing companies that have committed to providing innovative financial products to help Better Climate Challenge partners and other organizations fund decarbonization efforts, demonstrating transparency in their approaches for others to follow, and working with DOE to educate the market about financing opportunities.

Helping drive the transition to a clean energy economy, Financial Allies have invested $37 billion in energy efficiency and renewable energy projects to date. 

“The Inflation Reduction Act has greatly increased opportunities for nonprofits to benefit from renewable energy projects. But it’s still challenging for nonprofits to access funding. We believe that access to capital shouldn’t be a barrier to combatting the climate crisis,” said Lee Barken, Chief Community Officer of CollectiveSun. “As a Better Climate Challenge Financial Ally, we will help increase awareness and availability of funding options for renewable energy projects. We are proud to join this group of leaders who are partnering with DOE to reduce greenhouse gas emissions, and to help others by sharing viable pathways to accelerate clean energy solutions.”

In its role as a Financial Ally, CollectiveSun will report on the avoided greenhouse gas emissions resulting from its financing activities. Working with DOE, CollectiveSun will develop replicable examples and share information about its financing success to help grow the decarbonization financing market. The program will also include educating Better Climate Challenge partners about CollectiveSun products and services and publicly promoting energy and decarbonization financing opportunities.

With over 200 projects across 25 states, CollectiveSun is already serving nonprofits that want to go solar but have experienced barriers to accessing capital and technical support. As a Better Climate Challenge Financial Ally, CollectiveSun will have the opportunity to expand on this critical work.

About CollectiveSun
CollectiveSun is proud to exclusively help nonprofit and mission-driven organizations fund solar projects nationwide. CollectiveSun was founded in 2011 on the principle that all nonprofits and mission-driven organizations should have access to clean, renewable energy. Our team of experts have decades of experience and understand the financing challenges faced by nonprofits and mission-driven organizations. Our programs make solar and storage possible for nonprofits such as houses of worship, schools, arts and community centers, and many others to help them achieve financial and environmental sustainability. CollectiveSun’s innovative financing model includes interest rates based on community impact, not just credit score. Visit us at collectivesun.com and follow us on LinkedIn.

About the Better Climate Challenge
The Better Climate Challenge is part of the Better Buildings Initiative, through which DOE partners with leading public and private sector organizations to accelerate emissions reductions and increase energy efficiency across commercial, public, industrial, and residential buildings in the next decade to save energy and money while strengthening the economy. To date, more than 900 Better Buildings Partners have saved more than $18 billion in energy costs while sharing their innovative strategies. Discover more than 3,000 of these solutions in the Better Buildings Solution Center.

Contact:
Rosana Francescato
[email protected]