Bringing Solar to Banking: Highland Bank’s Clean Energy Investment

In a forward-thinking move toward sustainability and operational efficiency, Highland Bank partnered with Cedar Creek Energy to install a rooftop solar energy system at its St. Michael location. The initiative reflects the bank’s broader commitment to responsible business practices and demonstrates how financial institutions can lead by example in the transition to clean energy.

A Natural Partnership: Highland Bank and Cedar Creek Energy

The idea to explore solar energy took shape during the construction of Highland Bank’s new St. Michael office. When Cedar Creek Energy presented a customized, financially sound proposal, the opportunity aligned perfectly with the bank’s goals.

“Between the ground-up construction, advancements in solar technology, and new financial incentives, the St. Michael project became the perfect opportunity,” said Rick Wall, CEO of Highland Bank. “It made sense both environmentally and financially.”

Cedar Creek’s team—including Project Manager Charlie Stenstrom and Senior Development Engineer Rick Tisdale—worked closely with Highland Bank to design the system, manage grant applications, and outline the long-term value of clean energy.

About Cedar Creek Energy

Founded in 2007 and based in Blaine, Minnesota, Cedar Creek Energy delivers turnkey solar solutions for commercial, municipal, and multifamily projects across the region. The company stands out in the industry for its focus on mid-sized commercial projects—those that are often too small for national developers but too large for many local firms.

They handle as much of the process in-house as possible, employing seasoned teams for design, engineering, and installation. The company actively supports workforce development through an apprenticeship program that helps young tradespeople advance toward journeyman certification. This approach ensures clients receive a seamless, start-to-finish experience backed by local expertise.

Financial and Environmental Benefits of Solar

While sustainability was a key motivator for the project, the financial case for solar was just as strong. The St. Michael installation qualified for a USDA REAP (Rural Energy for America Program) grant and benefited from federal tax credits and accelerated depreciation—creating a highly favorable return on investment.

“I think most business owners have a preconceived notion that solar is expensive,” said Rick Tisdale, Senior Development Engineer at Cedar Creek Energy. “When I sit down with them and show them the numbers, their opinion changes. I’ve seen double-digit IRRs and paybacks of less than three years on seven-figure projects. That is a great business investment.”

The system will significantly reduce the branch’s carbon footprint and is expected to offset a substantial portion of energy usage, especially during high-demand summer months—reducing operational costs and long-term exposure to utility rate increases.

Financing Solar Through PACE: A Win-Win for Businesses

A key factor in making commercial solar projects feasible is PACE (Property Assessed Clean Energy) financing. PACE allows businesses to fund clean energy upgrades through long-term loans repaid via property tax assessments—preserving capital for other investments.

“PACE financing has been used to finance over $9 billion of projects in the United States,” said Tisdale. “The great part about PACE is that we can do solar projects for companies and it doesn’t compete with their capital for other projects. Having a partner like Highland Bank to assist our clients is a great asset.”

Cedar Creek works together with Highland Bank’s VP, Commercial Banker, Michael Linder to structure solar financing using PACE loans to align with client goals. This collaboration helps eliminate the upfront cost barrier many business owners face when considering solar, making clean energy more accessible and financially practical.

Thinking About Solar? Here’s What You Should Know

Solar energy isn’t just about going green—it’s a smart business decision. Most commercial systems see a return on investment within four to six years. And with minimal maintenance required, solar offers long-term savings and energy independence with very little operational disruption.

For businesses considering solar energy, both Highland Bank and Cedar Creek Energy agree: now is the time. With tax incentives currently at their peak and policy changes coming 2026, waiting will reduce long-term benefits. “Cedar Creek aims to take the guesswork out of the solar process and make it easy for business owners to have a clear picture of their energy use and expenses,” said Erin Harvey, Sales Operations Director. “As Rick Wall outlined, there can be challenges and changes along the way, so it’s important to work with a company that knows how to navigate those and keep you in the driver’s seat.”