Multi-Unit Shared Solar requires that the solar array is on the property of the units that will benefit from the electricity generated by the solar array. The array can be built on the rooftop of the building, on parking or shade structures, or on land adjacent to the property. A billing arrangement called Virtual Net Metering (VNEM) allows the electricity produced by the solar array to be split and provides a credit on the tenant’s electric bill. The only thing the utility company needs to know is the percentage of the split for each unit. The credit shows up on the tenant’s utility bill just like they owned a home or business with a rooftop solar system.
Multi-Unit Shared Solar Benefits:
- Increased revenue from the property
- Higher property value
- Faster leasing
- Lower vacancy rates
- Longer tenancies
- Greater tenant satisfaction
The first thought in every building owner’s mind is “Can I afford to install Multi-Unit Shared Solar on my property?”The answer is simply yes!
There are many options available to finance Multi-Unit Shared Solar that include primary ownership or third-party ownership. In some cases, there may be grants available that cover the entire cost of the system.
Impact Solar does the legwork. We do whatever it takes to simplify the process of adding Multi-Unit Shared Solar to your property. Even after the system is installed, we will assist you with your ongoing operation and maintenance needs.
California has set new goals for commercial and residential multi-unit properties to reach zero net energy consumption. The expectation is that 50% of existing commercial multi-unit properties meet the standard by 2030. As a result, beginning June 1, 2018, certain commercial multi-unit properties must submit an annual benchmarking report, and by June 1, 2019, many multi-unit residential properties will be required to submit their annual benchmarking reports. One year later these reports will be made public. If you have never done this kind of reporting before, creating a benchmarking report can be difficult. Impact Solar will gladly prepare your first report for free. Additionally, we will give you an action plan for how your property can achieve the zero net energy standards. In most cases, this plan will include installing Multi-Unit Shared Solar, unless it’s not needed. Finally, we will give you a no-obligation quote and only ask for an opportunity to meet your needs.
Free Benchmarking Report
We can show you how your property compares to most other apartment buildings.
We also provide an action plan to show you how you can improve your property’s benchmarking score.
A free no-obligation quote to do the necessary work to lower your benchmarking score.