Model Three is a solar water heating developer-in-residence for Generate Capital. Solar thermal technologies can produce up to 3-4x the amount of energy per square foot than photovoltaic technologies, however inexpensive fuels (such as natural gas) have limited adoption and experience in the space. Together, Model Three and Generate Capital are providing a turn-key financing program for solar thermal projects in the commercial and industrial sector—standardizing processes, documents, and tools to eliminate inefficiencies and create a competitive cost structure (without subsidies). Generate Capital and a tax equity partner will form a SPV.
- $5M investment
- 18% IRR **unlevered
- 4-year payback period
- $10M contracted pipeline
