Certified B Corp and 1% for the Planet member Solaris Energy announced its partnership with the US Department of Energy (DOE). at the Better Climate Challenge. It has been selected as a financial ally for the program, under which the company will provide $40 million to fund decarbonization projects built with solar and storage technology.

Solaris Energy caught the DOE’s attention with its remarkable accomplishments in completing two Power Purchase Agreement (PPA) projects at 26 sites across the US for another Better Climate Challenge participant, Colorado State University (CSU). As part of the partnership, the company plans to make bold financial investments in energy efficiency and renewable energy, and to actively pursue new ways of financing projects.

“We are truly proud to be supported by the DOE as a financial ally. We’ve been in the solar finance business for a long time and it’s nice to be recognized for the quality work we do with wonderful partners like CSU,” said Alex Blackmer, Founder and CEO of Solaris Energy.

The goals of the program aims to mitigate the effects of climate change while creating green jobs and strengthening the clean energy economy by “challenging organizations to set ambitious, portfolio-wide and short-term operational targets to reduce greenhouse gas emissions”.

As a recognized financial ally, Solaris Energy will commit at least $40 million over the next two years to develop distributed solar and storage projects for organizations and their buildings across the United States. The majority of this financing is provided through PPAs, leases and loans priced at or below market electricity rates to municipal, university, school, non-profit, commercial and industrial customers.

Solaris Energy will also play a role as a contributor to DOE’s online Financial Navigator tool, which acts as a resource platform to drive this program forward by streamlining and accelerating the process for organizations to find approved solutions for efficiency and renewable energy projects.

Solaris Energy Vice President Nick Perugini will speak at the DOE Better buildings, better plants Summit in April, where attendees will learn more about financial engagement and how to successfully leverage the opportunity to benefit their organization.