Solar & Apartments; the Competitive Edge



The world is changing quickly, and people are purchasing electric cars, mowers, and other gadgets that require electricity to charge the batteries. The environmental concern they have is what is making them make those choices.


Apartment complexes will need to adjust their outlook on Solar to address their tenants' needs to have a place to charge their cars and electronics. Even if each tenant is responsible for their electricity use, common areas and other power needs fall onto the landlord.


Future is Now

What sets apartments apart from their competitors? Location, price, and amenities can be the deal maker or breaker. Imagine an apartment complex with a place to recharge a car with all common areas, gym, lighting powered by solar, and provided electricity as part of the tenant's lease. What type of new clients would that attract?


Reduce and Add a Revenue Stream

Many apartment complexes in Colorado are tall and have large roof real estate. Using this space can reduce electricity costs and add an income stream that was not possible before. Taking advantage of Colorado's 300-days of sunshine, utility metering (sell excess energy back), Federal rebates with increased property value can be an attractive opportunity that is hard to ignore.


Determine The Most Cost-Effective Solar System

Time and money are the two keys to success, and a few data points will need to be collected to support that success. Total power consumption of all areas segmented by common areas, HVAC, lights, and tenants with possible future growth needs like a car charging station, new laundry room, etc. Inspection of the roof to determine current condition and life left. Then a site survey of all the meters, power lines, and possible locations of solar panels to determine if all will be on the roof or be ground mount.


Once the data is collected, the next step is to decide what warranty, support, and time length are required to support the best ROI. 25-year warrantied system would be a better time and money play than a system that is 20-years or less.


The final step is to look at all of the financial resources. The federal tax credit is at 26% now but will drop lower in 2022. Determine what the local utility metering rates are and if it's better to pay cash or finance.


Once the project is green-lighted, a suggestion is to start solar-running all the buildings' HVAC systems, common areas, and elevators. Then gradually phasing solar to increase other amenities like car recharging stations and apartments.



Conclusion

Cost nothing to do a discovery study to see if it is financially beneficial. Taking advantage of the low-interest rates, federal rebates, and selling excess back to your local utility is the right choice for the business and mother earth.

If the property is in Colorado, visit www.droneaillc.com to schedule a free consultation.

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