In this final video in the 6-part series on multifamily commercial solar, John Davis of Cal Solar Inc and Kerim Baran of SolarAcademy discuss how commercial property owners become a utility themselves with solar and energy storage in a way that benefits their tenants and themselves.
The entire interview with John can be viewed here.
Transcript of the video:
Kerim Baran of SolarAcademy: You mentioned tenant billing as well in the case of the property owner or even a separate asset manager owning that asset they can sell the powers individually to each tenant. And with pieces of software like Ivy Energy software tools, they can do individual billing to each tenant based on their specific usage patterns and whatnot.
John Davis of Cal Solar: Right, because the generic opportunity in California is if you have a market rate apartment complex, condo complex, the average tenants can be paying somewhere between 21 to 30 cents per kilowatt hour. Putting solar on you’re going to get it for anywhere from six maybe even less. So that margin is what you get to make as a property owner. And that in the utilities is around 800 to 1,000 bucks per year, per door.
So if you do that across your portfolio, you’re a large portfolio owner that really has dramatic changes. You can do that with a no cap x-way where instead of making 800 to 1,000 bucks per door you make about 200 bucks per door that you just did with no no money out of pocket, leveraging solar, hopefully meeting ESG goals, getting that investor stoked and providing benefit to the tenant, allowing them to get energy cleaner and greener. Really, kind of all the way down the line providing value.
Kerim: That makes sense. Great. Well, thank you very much for your insights, as usual.
John: Always great talking to you, Kerim.