Multi Family Going Solar
As rents, groceries and other costs increase, the study found a disappearing or reduced electric bill provides renters a great incentive to choose one apartment over another. Utility bills are usually the largest and most volatile portion of a Multi-Family housing development’s budget. Stabilizing utility bills through solar and other measures makes it easier to maintain operating budgets, retain tenant services and avoid raising rents. Therefore, building owners are combining their routine energy upgrades with the installation of rooftop solar systems or solar carport structures
With a solar PV system, you can reduce your operating costs by offsetting your common area loads and/ or Tenants units. If the building(s) are master metered, offsetting the entire unit provides significant savings and long-term benefits, yielding electricity bills savings for all.
Although it is difficult to predict future rates, most analysts expect them to continue to rise. Over the past 10 years, rates have continued to climb 3-5% year over year. Solar essentially allows you to have a fixed rate while maintaining a reduced operating cost for years to come.