Sunstone Credit, a commercial solar loan platform helping businesses transition to clean energy, has announced financing for a 2.8-MW solar project portfolio for King Energy, a provider of energy solutions for commercial multi-tenant properties.
Solar Project Powers 60 Tenants in Retail Centers
Through Sunstone Credit’s $5 million financing, King Energy is providing low-cost renewable energy to a range of tenants, from national chains to local businesses like salons, restaurants, and coffee shops. The project funds solar installations for 60 tenants across seven retail shopping centers, most of which are located in low- and medium-income communities.
“This project is unique because it makes solar energy accessible to businesses that might not be able to afford it otherwise. Our financing, coupled with King Energy’s ability to offer property owners and their tenants discounted solar energy services and consolidated payments, democratizes access to solar while driving a clean, green future for all,” said Josh Goldberg, Sunstone Credit co-founder and CEO.
King Energy’s Innovative Approach to Solar Energy Billing
King Energy uses virtual net metering to optimize power distribution among tenants. Its proprietary software, King Energy OneBill, streamlines billing by merging utility and solar payments into a single transaction. This system not only simplifies the payment process but also incentivizes tenants to join the solar program by offering discounted energy services, making solar an even more attractive option.
“Making solar simple and financially beneficial for our customers is our main goal. Working with Sunstone to finance this project helped us implement solar quickly, accelerating cost savings and renewable energy benefits almost immediately,” said John Witchel, CEO of King Energy.
King Energy Solar Powers Seven California Retail Centers
The project spans seven retail shopping centers across California, with sites in Reedley, Stockton, San Mateo, Bakersfield, and Half Moon Bay. At each location, the new solar installations will supply between 20% and 80% of their energy needs. This portfolio is part of King Energy’s broader work, which includes overseeing more than 170 energy programs across multi-tenant commercial properties that cover over 20 million square feet of tenant space.
King Energy’s goal is to install solar systems on every commercial rooftop by delivering clear financial benefits to property owners and tenants alike. By integrating its OneBill software with project financing, installation, and long-term management, the company serves as a comprehensive solar partner that enhances the financial value of commercial properties.
This all-in-one approach simplifies clean energy adoption, helping businesses cut operational costs and reduce their carbon footprints without the typical upfront expenses or complexities. King Energy is dedicated to making solar energy accessible, reliable, and profitable for everyone, driving the transition to a more sustainable future.