With its excellent renewable policy, California leads the nation in solar. Over the years both the Renewable Portfolio Standard and the California Solar Initiative drove utility scale and residential solar deployment. But without the same drivers pushing commercial and industrial buildings to go solar, California’s offices, warehouses, hospitals, farms, factories, universities, hotels and restaurants have lagged behind.
Now that appears to be turning around fast. A growing number of leaders in the solar industry see a very bright future for Commercial and Industrial (C&I) solar, beginning in 2015. A lot has to do with the introduction of PACE financing for C&I solar.
Vivint Solar recently unveiled $150 million in financing for the C&I solar market together with Sungevity. Vivint, currently valued at $1 billion, is already a major player in residential solar. Through its parent company Blackstone Group, Vivint obtained an inside track to almost $100 billion worth of real estate assets in a vast assortment of C&I properties. And with its $2 billion acquisition in July by SunEdison, it is clear that this market is valued.