Black Bear Energy and Evergrow Lead New Wave of Commercial Real Estate Solar Tax Credit Transfers

Black Bear Energy and Evergrow are spearheading a new wave of solar tax credit transfers in commercial real estate, facilitating greater access to renewable energy investments and enhancing sustainability in the sector.

SAN JOSE, Calif.–(BUSINESS WIRE)–Black Bear Energy (Black Bear), a Legence Company specializing in onsite renewable energy, today announced with Evergrow, a clean energy finance company, their first successful solar tax credit transfer from a Real Estate Investment Trust (REIT). Executed on Evergrow’s platform, this landmark deal covers multiple solar projects installed on multifamily assets in California and Washington DC, totaling 556 kW and ranging in size from 66 kW to 195 kW. This transaction will open doors for broader REIT participation in renewable energy projects and unlock the monetization of the investment tax credit, accelerating the deployment of onsite renewables in the commercial real estate sector.

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