As the multi-community project at Epoca grew, the real estate developers knew from other Epoca neighborhoods that a solar system would greatly increase the value of the Mason at Epoca project. Apartments that allow renewable energy use carry a higher rental value and give a compelling reason for tenants to stay.
HES Renewables designed a rooftop-only commercial solar system for the 16 buildings that make up the community plans; Maxeon-produced panels were selected for the project. The HES Renewables team was able to commence the solar installation during the initial build and gain efficiencies. By doing this, the building owners were able to reduce the cost of the 246-kilowatt commercial solar system.
The Mason at Epoca solar system will create an estimated 372,060 kilowatt hours of clean, green energy each year. The electricity is purchased by the tenants at a rate that is discounted from the utility rate. This win-win allows each tenant to run their lifestyle on more renewable energy, and also save money on their electric bill.
The solar created an additional revenue stream for the property by performing the functions of the utility (but without the risks of being a utility). By selling the solar electricity to the tenants, the property is anticipated to deliver an additional five million dollars in net revenue. Also, the total investment in the commercial solar system is able to be quickly recouped during the project’s extremely short 2.8 year payback period. This short payback period is due to both the strong revenue stream, estimated at over 7.7 million dollars over the first 25 years, as well as from the solar incentives the property received (Investment Tax Credit, Federal Bonus Depreciation, and the State MACRS Depreciation).
“Our communities are so much more than the raw materials required to construct a building or the four walls in which we work. At ColRich, we invest in the physical, cultural and financial well-being of our residents and employees. We create neighborhoods that offer comfort, security and support, where people come together to allow communities to thrive and endure.”
From ColRich.com.
We are a San Diego-based solar energy production and energy storage installation company. We have been an energy innovator since 2001 and can handle projects from solar-only arrays to micro-grid solar and storage systems with on-site EV charging stations.
If you’re looking into the benefits of on-site energy production, energy storage, or EV Charging capability, we’d love to speak with you. We’ll show you how to lower and stabilize energy costs, receive the maximum incentives, open new revenue streams, and gain control over one of the largest expenses of your business or commercial property.
Click here to be contacted by an HES Renewables representative, or simply dial us at 866-HES-RNEW (866-437-7639).