Villa Catalina Apartment Homes recently partnered with financial firm Solaris Energy and installer Solar Gain to add 152 kW of solar power to the senior living complex.
Solar Gain incorporated solar panels across four garages throughout the property that will produce roughly half of the energy used by the complex. The project will drastically reduce the HOA’s electricity rate and give the community an opportunity to own the solar system outright after six years.
“Our residents are thrilled about the solar energy. They like that they can shade their cars under the very same space that produces the energy they use every day. As a 55+ community, we’re also keen on ensuring we stay affordable, and this project will help us do just that,” said HOA board chair Alinda Hakanson.
The project was financed through a solar services agreement with Solaris Energy, which allows Villa Catalina to pay for the solar electricity as a service on a monthly basis over a long-term contract. In exchange, Solaris Energy provided the upfront capital needed to build the project.
“This project is a perfect example of how solar energy can be more than just an environmental advantage for a community. When you use innovative financing, it can provide a strong economic advantage too,” said Nick Francis, director of project development.
News item from Solaris Energy
