Tapping into clean renewable energy is easier than ever and often qualifies owners for utility rebates, federal tax credits and public funding.
Adding Solar during Condo or Apartment Construction Makes a Lot of Cents
The best time to implement a solar panel installation is when your buildings are still on paper. Executing viable and investment-friendly solar solutions starts in the design phase. In some parts of the county, state-administered incentive programs such as California’s New Solar Homes Partnership (NSHP) offer financial enticements to real estate developers who establish solar power systems on new, energy-efficient houses, apartments or other residential dwellings.
“Before selecting Borrego Solar we interviewed about six other potential solar contractors. It felt like Borrego was the most qualified to complete the job and had the most impressive list of referrals. Borrego was very easy to work with and everyone involved was always working towards the same goal. As the owner of the property we are very satisfied with the results.”
The federal Investment Tax Credits (ITC) provides solar owners with a 30% tax credit, and businesses can use accelerated depreciation to expense the green asset.
Remodeling Your Apartment Complex? Now is the Perfect Time to Go Solar
Upgrading your structures for higher energy efficiency and adding a roof-mounted solar array can maximize your utility savings. Roof renovations in particular are an ideal time to strengthen support underpinnings and introduce the framework for solar photovoltaics.
No Room on your Roof? No Problem.
Community solar programs are popping up in Massachusetts, New York, and other states allowing the member of a condominium community or apartment complex the option to purchase solar energy from a single PV installation installed at a remote location. Homeowners and tenants that didn’t qualify for solar previously, can now opt-in to buying solar energy from a community solar installation and save money while protecting the environment.
Community shared solar programs broaden access to solar electricity to include condominium owners, renters, small businesses and lower income families. Community solar projects are another avenue for states to reach their EPA Clean Power Plan goals. Photovoltaic panel prices are at record lows and combined with power purchase agreements (PPAs), leases, loans and community net metering, more energy consumers can save money in utility costs by going solar.
With community solar, also called community distributed generation, shared renewable and community net metering, property owners and tenants without optimal space can access solar. Less than optimal sites typically have:
- Limited square footage
- Space that is shaded
- Rooftops that require significant structural adaptations to support the weight of a roof-mounted system
In certain states, developers and housing complex owners can now partner with landowners of large parcels of available land for energy efficient and renewable energy solutions. This partnership is a win-win situation:
- The property owner receives proceeds in the form of lease payments.
- A solar developer builds, operates and maintains the solar project during the lease agreement (usually 20 to 25 years).
- The solar energy users can then use the energy credits generated to reduce their utility bills.
Benefits of Partnering with Borrego Solar
“To allow us to proceed with the projects and sign contracts with the host properties, Borrego provided the engineering assurances pre-contract. All of these buildings were occupied, which presented another challenge. Before construction, Borrego worked with the residents and managers to describe the solar project. During construction, Borrego maintained very good relations with the hosts and minimized their impact and time on the site through pre-fabricating the solar arrays. After working with Borrego last year, we are now moving forward with them on another round of projects. In addition to affordable housing, Borrego has brought us into a municipal solar project as the financing partner. We look forward to working with them on new ventures in the future.”
Partnering with Borrego Solar means you get trusted experience in the fast-paced renewable energy world. We specialize in larger solar installations of 1+ megawatts, which equates to about 500,000 square feet of unobstructed space.
- Over 35 years of solar energy generation expertise.
- Turnkey solar solutions that can provide financial returns from day one.
- Customized designs, state-of-the art engineering, high-quality construction, and first-rate operating and maintaining of facilities.
Contact us to talk about how you can bring clean energy to your large-scale apartment or condominium complex.