Benefits of Multi-Family Solar – Decrease Operating Cost, Increase NOI
Are you wondering how you can decrease your operating expenses and increase your NOI? Put your roof to work in the Texas sun. In San Antonio, commercial property owners can take advantage of rebates, tax credits, and accelerated depreciation to decrease the cost of solar making it a great investment with high returns.
NET OF ELECTRIC
If you own an apartment complex with a net of an electric lease structure, how can you utilize solar to increase your NOI? In this lease structure, tenants are responsible for their electric bills. The building owner, however, is still responsible for paying the electrical costs for the common areas. In this scenario, it is best to interconnect the solar panels into the common area loads such as the Clubhouse, leasing office, hallway lighting, trash compactor, elevators, fitness center, or pool.
This structure means, all of the electricity produced by your solar panels, will be used by one or more of the typical area loads. This will decrease the energy bill YOU are responsible for paying and increase your NOI.
ALL BILLS PAID
In an all bills paid lease structure, there is no incentive for tenants to consume less power. Building owners get hit with that high energy bill month after month. In this lease structure, it is best to interconnect the solar behind the main revenue meter. You will now start offsetting your energy costs with cheap electricity from the solar panels. In a market that is shifting away from all bills paid, this provides a great marketing opportunity to get the millennials into a solar-powered apartment.
Old Roof – No Problem
If your apartment complex has a roof that is 10 or 15 years old and you aren’t quite ready to replace it. Don’t worry. You have other options for solar. Solar Carports provide you with the benefit of reducing your energy costs while keeping your tenants happy with shaded parking. If you are adding carports for the first time, you can start charging your tenants which will make your return on investment for the solar even quicker.
Contact our sales team to talk to a qualified sales representative and get your free solar feasibility study! We have helped commercial apartment and multi-family homes make the sustainable and lucrative jump to solar energy.