BALTIMORE, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Sunstone Credit, Inc., a commercial solar loan platform that helps businesses switch to clean energy, today announced it has financed a solar installation at 2101 E. Biddle Street, a mixed-use property owned by Cross Street Partners. Installed by Lumina, this 140kW project highlights how Sunstone Credit’s financing can make solar energy a realistic, cost-saving option for commercial properties while helping tenants significantly reduce utility costs.
“The 2101 E. Biddle Street project reflects exactly what we strive to achieve at Sunstone Credit–helping businesses take actionable steps toward adopting clean energy,” said Sunstone CEO Josh Goldberg. “By removing barriers through flexible financing, we’re making solar a practical solution for commercial property owners like Cross Street Partners. We’re excited to see how this project inspires more businesses in Baltimore to embrace solar.”
The project generates 90% of the energy needs for tenant Associated Builders and Contractors of Greater Baltimore (ABC), the largest commercial construction organization in Maryland, which will significantly lower their utility costs over time.
“Sustainability is a key priority for our company, and the solar install at 2101 E. Biddle Street reflects that commitment,” said Adam Rhoades-Brown, VP of Development at Cross Street Partners. “This first step into solar energy has shown us how feasible solar can be, especially when a tenant can directly benefit from the energy produced.”
Inspired by this success, Cross Street Partners plans to integrate solar into both new and existing properties across its portfolio.
The installation at 2101 E. Biddle was made possible by Sunstone’s tailored financing solutions and hands-on support. Key features of Sunstone’s approach include:
- System-backed loans: Sunstone’s loans are guaranteed by the solar installation itself and require no collateral in the property itself. Unlike traditional financing, this allows property owners to secure loans and avoid up-front costs easily and without involving other creditors in the process.
- Competitive interest rates: Sunstone’s financing offers fixed long-term loans up to 20 years with fixed monthly payments, even as interest rates, inflation, and the cost of electricity rise.
- Hands-on help support throughout the process: Sunstone guides businesses through every step of the solar adoption process, from feasibility studies and financing to installation, while helping them maximize savings through federal and local tax incentives.
“This project represents what’s possible when forward-thinking property owners, tenants, and renewable energy providers come together,” said Shane Williams, Commercial Business Development Consultant at Lumina. “It’s exciting to see how this project not only supports clean energy but also opens the door to new opportunities for solar on buildings throughout Baltimore.”
For more information about the 2101 E. Biddle Street solar installation and how Sunstone Credit helps small-to-medium-sized businesses adopt clean energy, visit SunstoneCredit.com or contact Rachel Morrison.
About Sunstone Credit
Sunstone Credit is on a mission to democratize access to solar for businesses of all sizes. Sitting at the intersection of climate, finance, and technology, Sunstone has built a best-in-class technology platform and partnered with leading financial institutions and a national network of solar developers to provide business borrowers access to simple, affordable, and easy-to-understand solar loan products with flexible terms and a streamlined application process. When commercial customers go solar using Sunstone’s products, they save money and reduce their carbon footprint, driving a clean, green future for all. Learn more at sunstonecredit.com.
