Commercial Archives - Inclusive Prosperity Capital

IPC Energizes its First Massachusetts SMART Commercial Solar Project

Project typeRooftop PV IPC productSolar PPA (Roof lease) LocationMedfield, MA Building typeCommercial System size186 kW Term20-year roof lease EPCGreen Earth Roofing Solutions DeveloperClean Footprint Project energizedSeptember 2022 Projected lifetime energy production3,994,861 kWh Projected lifetime GHG reduction3,121 tons Rooftop PV · Community Solar · Medfield, Massachusetts The Project Inclusive Prosperity Capital is proud to announce the completion and energization of its first commercial solar PV system in Massachusetts, a 186-kW rooftop array developed in partnership with national solar developer Clean Footprint, Massachusetts-based EPC Green Earth Roofing Solutions, and 106 Adams, LLC. The system, located at 106 Adams Street in Medfield, MA, is a commercial property home to three small businesses supporting the broader Medfield community. The project was developed via the Massachusetts SMART program’s virtual net metering offering. The Impact The standalone system model provides the property owner with annual lease payments, generating additional revenue and supporting local economic development. IPC partnered with Arcadia Power to contract the electricity generated with a local business to receive a 10% savings on their electric bill.

IPC x BlocPower

Case Study

In 2019, BlocPower approached Inclusive Prosperity Capital to provide no-cost customer financing for heat pump upgrades to small- and mid-sized properties in urban areas. IPC worked with BlocPower to assemble a financing structure that helped BlocPower catalyze its project development pipeline, scale deployment and, in 2020, attract interest and investment from Goldman Sachs’ prestigious Urban Investment Group. Who is BlocPower? BlocPower is a climate tech startup creating smarter, healthier, greener buildings for all by reducing the barriers to money-saving, quality-of-life-improving green building retrofits. BlocPower provides turnkey engineering, financing, and project implementation services for clients in front line communities across the country. Why is IPC involved? IPC structured a $5M energy efficiency creditfacility for BlocPower to launch its first financing product in their target market of owners with few financing options. These markets include nonprofits, multifamily properties, small and medium commercial properties. Creating Resilience & Equity Through Technology BlocPower’s innovative financing model increases access to heat pump technology for low-to-moderate income and environmental justice communities. Through an energy service agreement, a leaseon the equipment that includes operations and maintenance, BlocPower delivers an affordable solution for building electrification retrofits. Brooklyn-based Energy Technology Startup BlocPower was founded with a mission to leverage the forces of technology and finance to create clean energy projects and better living conditions for Americans living in inner cities. These communities are underserved by traditional energy services companies because they are considered too small, too costly, or too risky. Heat Pump Benefits Heat pumps use electricity, not combustion of fossil fuels, to comfortably and efficiently heat and coola space. They offer precise temperature control and filter the air they deliver to create healthy living environments in all climates.

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