multifamily energy ef0iciency: opportunities & barriers · about eutectics® • mission-driven...
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©Eutec(cs2017,allrightsreserved
MultifamilyEnergyEf0iciency:Opportunities&Barriers
AboutEutectics®
• Mission-drivencompany
• OperateCleanEnergyFinancingHubsacrossU.S.
• Facilitateef?iciencyandsolar?inancingforunderservedanduntappedmarkets
• $86M+incompletedprojectstodate
©Eutec(cs2017,allrightsreserved
Photo:StarTribune
Photo:MSRDesign
©Eutec(cs2017,allrightsreserved
MultifamilyEEOpportunity&Barriers
• Signi?icantinvestmentopportunity:• $34Bninpotentialinvestment• 347TBtuannualenergysavings
• Multifamilybuildingshavecomplex?inancingstructures• Taxcredits• Multipleinvestorsandlenders
• Pre-developmentchallenge:• Minnesotahasgoodenergyauditresources• Buildingownercapacityfortakingonnewprojectslimited
Source:“UnitedStatesBuildingEnergyEf7iciencyRetro7its,”DeutscheBank/RockefellerFoundation,March2012
©Eutec(cs2017,allrightsreserved
EutecticsMethodology
• Segmentbuildingsandprojectsintocategories:1. GoodConditionorPositiveCash-?low• Manageablyunderwritten
2. Tougherprojects• Utilizecreditenhancementmechanism
• Optiontoturncapitalexpenseintooperatingexpense:• Lease• Powerpurchaseagreement
• Whoistherealowner?**Decision-maker
©Eutec(cs2017,allrightsreserved
CaseStudy–CaliforniaPortfolioofMultifamilyBuildings
©Eutec(cs2017,allrightsreserved
PROPERTIESWITHASIMPLEPAYBACKLESSTHAN7YRS,AFTERREBATE:
13PROPS.
EnergyEfficiency&WaterSavingsENERGY EFFICIENCY & WATER SAVINGS!
©Eutec(cs2017,allrightsreserved
Efficiency(Payback(in(less(th
an(7(
years,(after(rebates
#(Un
its
Net(C
apital(Cost(for(Efficie
ncy(
Measures
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
Solar(P
V(kW
Gross(S
olar(Capital(Cost
Paybacks(Und
er(7(years,(notD
cashDflow
ing(prop
ertie
s
#(Un
its
Net(C
apital(Cost(for(Efficie
ncy(
Measures
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
Abel%Gonzalez%Apartments ✓
Alcantara%Court%Apartments ✓
Altamont%HotelApollo%HotelBayview%Commons%Apartments ✓
Betel ✓
ColosimoDel%Carlo%Court%ApartmentsDunleavy%Plaza%Apartments ✓
EsperanzaGood%Samaritan%Apartments ✓
Juan%PP ✓
MadridMaria%Alicia%Apartments ✓
Mariposa%Gardens%Apartments ✓
ParkviewPlaza%Del%Sol%Apartments ✓
Rich%Sorro%Commons%Apartments ✓
Valencia%Gardens ✓
Scattered%Sites ✓
Efficiency(Payback(in(less(th
an(7(
years,(after(rebates
#(Un
its
Net(C
apital(Cost(for(Efficie
ncy(
Measures
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
Solar(P
V(kW
Gross(S
olar(Capital(Cost
Paybacks(Und
er(7(years,(notD
cashDflow
ing(prop
ertie
s
#(Un
its
Net(C
apital(Cost(for(Efficie
ncy(
Measures
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
30 715$(((((((((((( 0.250 47,393$((((((( 5.1
30 64,599$((((((( 6.050 44,881$((((((( 2.4
49 105,511$((((( 6.9
20 43,066$((((((( 4.530 44,820$((((((( 3.1
20 23,034$((((((( 2.563 135,657$((((( 5.0
59 56,568$((((((( 2.3100 215,329$((((( 3.8260 559,855$((((( 4.875 161,497$((((( 4.9
©Eutec(cs2017,allrightsreserved
EnergyEfficiency&WaterSavingsENERGY EFFICIENCY & WATER SAVINGS!
©Eutec(cs2017,allrightsreserved
PROPERTIESWITHASIMPLEPAYBACKLESSTHAN7YRS,AFTERREBATE-AND-WITH2013AUDITSSHOWINGPOSITIVECASHFLOW:
Efficiency(Payback(in(less(than(7(
years,(after(rebates
Cash(Flowing(Property(through(
FY2013(audit
#(Units
Net(Capital(Cost(for(Efficiency(
Measures
Simple(Payback(on(Efficiency(
Measures((in(years)
Solar(PV(kW
Gross(Solar(Capital(Cost
Paybacks(Under(7(years,(notL
cashLflowing(properties
#(Units
Net(Capital(Cost(for(Efficiency(
Measures
Simple(Payback(on(Efficiency(
Measures((in(years)
Abel%Gonzalez%Apartments ✓
Alcantara%Court%ApartmentsAltamont%HotelApollo%Hotel ✓
Bayview%Commons%Apartments ✓ ✓
Betel ✓ ✓
ColosimoDel%Carlo%Court%ApartmentsDunleavy%Plaza%Apartments ✓
Esperanza ✓
Good%Samaritan%Apartments ✓ ✓
Juan%PP ✓ ✓
MadridMaria%Alicia%Apartments ✓
Mariposa%Gardens%Apartments ✓ ✓
ParkviewPlaza%Del%Sol%Apartments ✓
Rich%Sorro%Commons%Apartments ✓ ✓
Valencia%Gardens ✓ ✓
Scattered%Sites ✓
Efficiency(Payback(in(less(than(7(
years,(after(rebates
Cash(Flowing(Property(through(
FY2013(audit
#(Units
Net(Capital(Cost(for(Efficiency(
Measures
Simple(Payback(on(Efficiency(
Measures((in(years)
Solar(PV(kW
Gross(Solar(Capital(Cost
Paybacks(Under(7(years,(notL
cashLflowing(properties
#(Units
Net(Capital(Cost(for(Efficiency(
Measures
Simple(Payback(on(Efficiency(
Measures((in(years)
30 715$(((((((((((( 0.2
50 47,393$((((((( 5.1
89 191,643$((((( 11.6
81 121,014$((((( 11.9
30 64,599$((((((( 6.0
50 44,881$((((((( 2.4
11 L$(((((((((((((((( 0.0
25 144,340$((((( 8.2
49 105,511$((((( 6.9
39 L$(((((((((((((((( L
20 43,066$((((((( 4.5
30 44,820$((((((( 3.1
44 121,122$((((( 13.4
20 23,034$((((((( 2.5
63 135,657$((((( 5.0
41 61,254$((((((( 11.1
59 56,568$((((((( 2.3
100 215,329$((((( 3.8
260 559,855$((((( 4.8
75 161,497$((((( 4.9
GROUPA:7PROPS.
©Eutec(cs2017,allrightsreserved
EnergyEfficiency&WaterSavingsENERGY EFFICIENCY & WATER SAVINGS!
©Eutec(cs2017,allrightsreserved
Efficiency(Payback(in(less(th
an(7(
years,(after(rebates
Cash(Flowing(Prop
erty(th
rough(
FY2013(aud
it
#(Un
its
Net(C
apital(Cost(for(Efficie
ncy(
Measures
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
Solar(P
V(kW
Gross(S
olar(Capital(Cost
Paybacks(Und
er(7(years,(notL
cashLflow
ing(prop
ertie
s
#(Un
its
Net(C
apital(Cost(for(Efficie
ncy(
Measures
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
Raw(M
easure(Con
st.(Cost
MHD
C(Direct(Cost(
Reimbu
rsem
ent(L( !5%!of!
measure!co
st
Dev(/(E
ng.(/(Cx
Finance(Co
sts
Gross(C
apital(Cost(L((Raw
!
Measure!Cost!+
!MHD
C!expense!
+!De
v!/!E
ng!/!Cx!+!Finance)
Estim
ated(M
F(EE(Rebates
Estim
ated(W
ater(Rebates
Estim
ated(PG&
E(Rebates
Net(C
apital(Cost(L(afte
r(rebates
Utility(Cost(Savings
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
Abel%Gonzalez%Apartments ✓
Alcantara%Court%Apartments ✓
Altamont%HotelApollo%Hotel ✓
Bayview%Commons%Apartments ✓ ✓
Betel ✓ ✓
ColosimoDel%Carlo%Court%ApartmentsDunleavy%Plaza%Apartments ✓
Esperanza ✓
Good%Samaritan%Apartments ✓ ✓
Juan%PP ✓ ✓
MadridMaria%Alicia%Apartments ✓
Mariposa%Gardens%Apartments ✓ ✓
ParkviewPlaza%Del%Sol%Apartments ✓
Rich%Sorro%Commons%Apartments ✓ ✓
Valencia%Gardens ✓ ✓
Scattered%Sites ✓
Efficiency(Payback(in(less(th
an(7(
years,(after(rebates
Cash(Flowing(Prop
erty(th
rough(
FY2013(aud
it
#(Un
its
Net(C
apital(Cost(for(Efficie
ncy(
Measures
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
Solar(P
V(kW
Gross(S
olar(Capital(Cost
Paybacks(Und
er(7(years,(notL
cashLflow
ing(prop
ertie
s
#(Un
its
Net(C
apital(Cost(for(Efficie
ncy(
Measures
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
Raw(M
easure(Con
st.(Cost
MHD
C(Direct(Cost(
Reimbu
rsem
ent(L( !5%!of!
measure!co
st
Dev(/(E
ng.(/(Cx
Finance(Co
sts
Gross(C
apital(Cost(L((Raw
!
Measure!Cost!+
!MHD
C!expense!
+!De
v!/!E
ng!/!Cx!+!Finance)
Estim
ated(M
F(EE(Rebates
Estim
ated(W
ater(Rebates
Estim
ated(PG&
E(Rebates
Net(C
apital(Cost(L(afte
r(rebates
Utility(Cost(Savings
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
30 715$(((((((((((( 0.250 47,393$((((((( 5.1
30 64,599$((((((( 6.050 44,881$((((((( 2.4
49 105,511$((((( 6.9
20 43,066$((((((( 4.530 44,820$((((((( 3.1
20 23,034$((((((( 2.563 135,657$((((( 5.0
59 56,568$((((((( 2.3100 215,329$((((( 3.8260 559,855$((((( 4.875 161,497$((((( 4.9
PROPERTIESWITHASIMPLEPAYBACKLESSTHAN7YRS,AFTERREBATE-AND-WITH2013AUDITSSHOWINGPOSITIVECASHFLOW-AND–NOTPROJECTEDFORRESYNDICATIONIN2015OR2016:
GROUPA:5PROPS.
©Eutec(cs2017,allrightsreserved
EnergyEfficiency&WaterSavingsENERGY EFFICIENCY & WATER SAVINGS!
©Eutec(cs2017,allrightsreserved
Efficiency(Payback(in(less(th
an(7(
years,(after(rebates
Cash(Flowing(Prop
erty(th
rough(
FY2013(aud
it
#(Un
its
Net(C
apital(Cost(for(Efficie
ncy(
Measures
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
Solar(P
V(kW
Gross(S
olar(Capital(Cost
Paybacks(Und
er(7(years,(notL
cashLflow
ing(prop
ertie
s
#(Un
its
Net(C
apital(Cost(for(Efficie
ncy(
Measures
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
Raw(M
easure(Con
st.(Cost
MHD
C(Direct(Cost(
Reimbu
rsem
ent(L( !5%!of!
measure!co
st
Dev(/(E
ng.(/(Cx
Finance(Co
sts
Gross(C
apital(Cost(L((Raw
!
Measure!Cost!+
!MHD
C!expense!
+!De
v!/!E
ng!/!Cx!+!Finance)
Estim
ated(M
F(EE(Rebates
Estim
ated(W
ater(Rebates
Estim
ated(PG&
E(Rebates
Net(C
apital(Cost(L(afte
r(rebates
Utility(Cost(Savings
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
Abel%Gonzalez%Apartments ✓
Alcantara%Court%Apartments ✓
Altamont%HotelApollo%Hotel ✓
Bayview%Commons%Apartments ✓ ✓
Betel ✓ ✓
ColosimoDel%Carlo%Court%ApartmentsDunleavy%Plaza%Apartments ✓
Esperanza ✓
Good%Samaritan%Apartments ✓ ✓
Juan%PP ✓ ✓
MadridMaria%Alicia%Apartments ✓
Mariposa%Gardens%Apartments ✓ ✓
ParkviewPlaza%Del%Sol%Apartments ✓
Rich%Sorro%Commons%Apartments ✓ ✓
Valencia%Gardens ✓ ✓
Scattered%Sites ✓
Efficiency(Payback(in(less(th
an(7(
years,(after(rebates
Cash(Flowing(Prop
erty(th
rough(
FY2013(aud
it
#(Un
its
Net(C
apital(Cost(for(Efficie
ncy(
Measures
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
Solar(P
V(kW
Gross(S
olar(Capital(Cost
Paybacks(Und
er(7(years,(notL
cashLflow
ing(prop
ertie
s
#(Un
its
Net(C
apital(Cost(for(Efficie
ncy(
Measures
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
Raw(M
easure(Con
st.(Cost
MHD
C(Direct(Cost(
Reimbu
rsem
ent(L( !5%!of!
measure!co
st
Dev(/(E
ng.(/(Cx
Finance(Co
sts
Gross(C
apital(Cost(L((Raw
!
Measure!Cost!+
!MHD
C!expense!
+!De
v!/!E
ng!/!Cx!+!Finance)
Estim
ated(M
F(EE(Rebates
Estim
ated(W
ater(Rebates
Estim
ated(PG&
E(Rebates
Net(C
apital(Cost(L(afte
r(rebates
Utility(Cost(Savings
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
30 715$(((((((((((( 0.250 47,393$((((((( 5.1
30 64,599$((((((( 6.050 44,881$((((((( 2.4
49 105,511$((((( 6.9
20 43,066$((((((( 4.530 44,820$((((((( 3.1
20 23,034$((((((( 2.563 135,657$((((( 5.0
59 56,568$((((((( 2.3100 215,329$((((( 3.8260 559,855$((((( 4.875 161,497$((((( 4.9
PROPERTIESWITHASIMPLEPAYBACKLESSTHAN7YRS,AFTERREBATE-AND-WITH2013AUDITSSHOWINGPOSITIVECASHFLOW-AND–NOTPROJECTEDFORRESYNDICATIONIN2015OR2016:
GROUPA:6PROPS.INCL.
ABELGONZ.
©Eutec(cs2017,allrightsreserved
EnergyEfficiency&WaterSavingsENERGY EFFICIENCY & WATER SAVINGS!
©Eutec(cs2017,allrightsreserved
Efficiency(Payback(in(less(th
an(7(
years,(after(rebates
Cash(Flowing(Prop
erty(th
rough(
FY2013(aud
it
#(Un
its
Net(C
apital(Cost(for(Efficie
ncy(
Measures
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
Solar(P
V(kW
Gross(S
olar(Capital(Cost
Paybacks(Und
er(7(years,(notL
cashLflow
ing(prop
ertie
s
#(Un
its
Net(C
apital(Cost(for(Efficie
ncy(
Measures
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
Raw(M
easure(Con
st.(Cost
MHD
C(Direct(Cost(
Reimbu
rsem
ent(L( !5%!of!
measure!co
st
Dev(/(E
ng.(/(Cx
Finance(Co
sts
Gross(C
apital(Cost(L((Raw
!
Measure!Cost!+
!MHD
C!expense!
+!De
v!/!E
ng!/!Cx!+!Finance)
Estim
ated(M
F(EE(Rebates
Estim
ated(W
ater(Rebates
Estim
ated(PG&
E(Rebates
Net(C
apital(Cost(L(afte
r(rebates
Utility(Cost(Savings
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
Abel%Gonzalez%Apartments ✓
Alcantara%Court%Apartments ✓
Altamont%HotelApollo%Hotel ✓
Bayview%Commons%Apartments ✓ ✓
Betel ✓ ✓
ColosimoDel%Carlo%Court%ApartmentsDunleavy%Plaza%Apartments ✓
Esperanza ✓
Good%Samaritan%Apartments ✓ ✓
Juan%PP ✓ ✓
MadridMaria%Alicia%Apartments ✓
Mariposa%Gardens%Apartments ✓ ✓
ParkviewPlaza%Del%Sol%Apartments ✓
Rich%Sorro%Commons%Apartments ✓ ✓
Valencia%Gardens ✓ ✓
Scattered%Sites ✓
Efficiency(Payback(in(less(th
an(7(
years,(after(rebates
Cash(Flowing(Prop
erty(th
rough(
FY2013(aud
it
#(Un
its
Net(C
apital(Cost(for(Efficie
ncy(
Measures
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
Solar(P
V(kW
Gross(S
olar(Capital(Cost
Paybacks(Und
er(7(years,(notL
cashLflow
ing(prop
ertie
s
#(Un
its
Net(C
apital(Cost(for(Efficie
ncy(
Measures
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
Raw(M
easure(Con
st.(Cost
MHD
C(Direct(Cost(
Reimbu
rsem
ent(L( !5%!of!
measure!co
st
Dev(/(E
ng.(/(Cx
Finance(Co
sts
Gross(C
apital(Cost(L((Raw
!
Measure!Cost!+
!MHD
C!expense!
+!De
v!/!E
ng!/!Cx!+!Finance)
Estim
ated(M
F(EE(Rebates
Estim
ated(W
ater(Rebates
Estim
ated(PG&
E(Rebates
Net(C
apital(Cost(L(afte
r(rebates
Utility(Cost(Savings
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
30 715$(((((((((((( 0.250 47,393$((((((( 5.1
30 64,599$((((((( 6.050 44,881$((((((( 2.4
49 105,511$((((( 6.9
20 43,066$((((((( 4.530 44,820$((((((( 3.1
20 23,034$((((((( 2.563 135,657$((((( 5.0
59 56,568$((((((( 2.3100 215,329$((((( 3.8260 559,855$((((( 4.875 161,497$((((( 4.9
PROPERTIESWITHASIMPLEPAYBACKLESSTHAN7YRS,AFTERREBATE-AND-WITH2013AUDITSSHOWINGPOSITIVECASHFLOW-AND–NOTPROJECTEDFORRESYNDICATIONIN2015OR2016:
GROUPA:6PROPS.INCL.
ABELGONZ.TOTAL:503UNITS$1,372,942COST$373,500REBATE$999,442NETCOST
©Eutec(cs2017,allrightsreserved
EnergyEfficiency&WaterSavingsENERGY EFFICIENCY & WATER SAVINGS!
©Eutec(cs2017,allrightsreserved
PROPERTIESWITHASIMPLEPAYBACKLESSTHAN7YRS,AFTERREBATE-BUT-NEEDINGTHIRD-PARTYCREDITENHANCEMENT/GUARANTOR:
GROUPB:5PROPS.TOTAL:420UNITS$709,003COST$315,000REBATE$394,003NETCOST
Paybacks(Und
er(7(years,(not2
cash2flow
ing(prop
ertie
s
#(Un
its
Net(C
apital(Cost(for(Efficie
ncy(
Measures
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
Abel%Gonzalez%ApartmentsAlcantara%Court%ApartmentsAltamont%HotelApollo%HotelBayview%Commons%ApartmentsBetelColosimoDel%Carlo%Court%ApartmentsDunleavy%Plaza%ApartmentsEsperanzaGood%Samaritan%ApartmentsJuan%PPMadridMaria%Alicia%ApartmentsMariposa%Gardens%ApartmentsParkviewPlaza%Del%Sol%ApartmentsRich%Sorro%Commons%ApartmentsValencia%GardensScattered%Sites
Paybacks(Und
er(7(years,(not2
cash2flow
ing(prop
ertie
s
#(Un
its
Net(C
apital(Cost(for(Efficie
ncy(
Measures
Simple(Payback(on
(Efficie
ncy(
Measures((in(years)
✓ 50 47,393$((((((( 5.1
✓ 25 105,511$((((( 6.9
✓ 44 23,034$((((((( 2.5
✓ 41 56,568$((((((( 2.3
✓ 260 161,497$((((( 4.9
©Eutec(cs2017,allrightsreserved
EnergyEfficiency&WaterSavingsSOLAR PV!
©Eutec(cs2017,allrightsreserved
SOLARPVPOWERPURCHASEAGREEMENTSAT12PROPERTIESZERO-DOWN,CASH-FLOW-POSITIVECONTRACTSWITHQUALIFIEDTHIRD-PARTYSOLARDEVELOPER.
SOLARPV:12PROPS.TOTAL:442KW$ 0COST$TBDREBATE$0NETCOST
Solar&P
V?
Solar&P
V&kW
Gross&S
olar&Capital&Cost
Paybacks&Und
er&7&years,¬
cash;flow
ing&prop
ertie
s
#&Un
its
Net&C
apital&Cost&for&Efficie
ncy&
Measures
Simple&Payback&on
&Efficie
ncy&
Measures&(in&years)
Abel%Gonzalez%ApartmentsAlcantara%Court%ApartmentsAltamont%HotelApollo%HotelBayview%Commons%ApartmentsBetelColosimoDel%Carlo%Court%ApartmentsDunleavy%Plaza%ApartmentsEsperanzaGood%Samaritan%ApartmentsJuan%PPMadridMaria%Alicia%ApartmentsMariposa%Gardens%ApartmentsParkviewPlaza%Del%Sol%ApartmentsRich%Sorro%Commons%ApartmentsValencia%GardensScattered%Sites
Solar&P
V?
Solar&P
V&kW
Gross&S
olar&Capital&Cost
Paybacks&Und
er&7&years,¬
cash;flow
ing&prop
ertie
s
#&Un
its
Net&C
apital&Cost&for&Efficie
ncy&
Measures
Simple&Payback&on
&Efficie
ncy&
Measures&(in&years)
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
✓
Solar&P
V?
Solar&P
V&kW
Gross&S
olar&Capital&Cost
Paybacks&Und
er&7&years,¬
cash;flow
ing&prop
ertie
s
#&Un
its
Net&C
apital&Cost&for&Efficie
ncy&
Measures
Simple&Payback&on
&Efficie
ncy&
Measures&(in&years)
2436
2015
23402515
2430
50140
©Eutec(cs2017,allrightsreserved
EnergyEfficiency&WaterSavingsENERGY EFFICIENCY, WATER & SOLAR!
©Eutec(cs2017,allrightsreserved
GROUPA:6PROPS.INCL.
ABELGONZ.TOTAL:503UNITS$1,372,942COST$373,500REBATE$999,442NETCOST
Efficiency(
Payback(in(
less(th
an(7(
years,(after(
rebates
Solar(P
V?
#(Un
its
Net(C
apital(
Cost(fo
r(Efficiency(
Measures
Simple(
Payback(on
(Efficiency(
Measures((in(
years)
Solar(P
V(kW
Gross(S
olar(
Capital(Cost
Paybacks(
Under(7
(years,(
notEc
ashE
flowing(
prop
ertie
s#(Un
its
Net(C
apital(
Cost(fo
r(Efficiency(
Measures
Simple(
Payback(on
(Efficiency(
Measures((in(
years)
Abel%Gonzalez%Apartments ✓
Alcantara%Court%Apartments ✓
Altamont%HotelApollo%HotelBayview%Commons%Apartments ✓
Betel ✓
ColosimoDel%Carlo%Court%ApartmentsDunleavy%Plaza%Apartments ✓
EsperanzaGood%Samaritan%Apartments ✓
Juan%PP ✓
MadridMaria%Alicia%Apartments ✓
Mariposa%Gardens%Apartments ✓
ParkviewPlaza%Del%Sol%Apartments ✓
Rich%Sorro%Commons%Apartments ✓
Valencia%Gardens ✓
Scattered%Sites ✓
Efficiency(
Payback(in(
less(th
an(7(
years,(after(
rebates
Solar(P
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SOLARPV:12PROPS.VIAPPCTOTAL:442KW$ 0COST$TBDREBATE$0NETCOST
GROUPB:5PROPS.TOTAL:420UNITS$709,003COST$315,000REBATE$394,003NETCOST
