Insights

COMMERICAL REAL ESTATE DEVELOPER

10.27.2021
Yaniv Kalish

COMMERICAL REAL ESTATE DEVELOPER

SolarKal’s client owns and manages multi-family residences throughout New Jersey, and was intrigued with the idea of integrating solar into construction of a new building in Jersey City. They received a price quote from one solar company, but were hesitant to move forward without reviewing multiple quotes. However, they quickly discovered that this process was a lot of work. Assessing equipment quality, deciphering tax incentives and finding a trustworthy installer amidst the hundreds of options felt like a full-time job. The firm approached SolarKal for assistance, and after conducting a full technical and financial analysis, SolarKal brought this project to its large network of solar companies. The end result? A project with higher-quality solar panels at a price 30% below what they had been quoted originally.

 

SOLARKAL’S SOLUTION: MAXIMIZING CLIENT’S SAVINGS

SolarKal walked the firm through the entire process, working with them to maximize their savings and to
select the right installer. The process included:

Analysis of the building’s expected energy usage and available roof-space, presenting all available solar incentive programs and a full 25-year cash flow analysis.
Management of the procurement process, tapping into dozens of SolarKal partners to find a vendor with ample experience integrating solar into buildings under construction.
Advising the client on choosing a vendor, negotiating the contract, and ensuring the vendor upholds their timetable and equipment choices..
PROJECT SPECIFICATIONS AND ENVIRONMENTAL BENEFITS

The new building will house a 44 kilowatt solar PV system that generates nearly 54,000 kilowatt-hours of clean energy each year.

Their switch to solar will offset the building’s common area electricity use, leading to lower greenhouse emissions and giving their tenants something to be proud of. Their system’s clean energy production is equivalent to planting 50 acres of trees or to avoiding burning 44,000 pounds of coal every year.

FINANCIAL IMPACT

Taking advantage of its location and the available Federal and New Jersey State Solar Incentives, alongside SolarKal’s competitive bidding process, the firm expects to generate savings in excess of $450,000 over the next 25 years, with an Internal Rate of Return of over 30%. Overall, this clean energy investment will have paid for itself after only three years.

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