Dallas-based contractor The Solar Company is installing solar panels across 16 apartment communities in Dallas and Tarrant counties in Texas. Granite Redevelopment Properties, a real estate investment and redevelopment company, contracted The Solar Company to offset energy costs at its Class B and C communities, comprising more than 3,600 units.
Credit: The Solar Company
Solar carports will also be installed at nine properties, covering approximately 2,000 parking spaces.
“When we ran the numbers for overall project returns, we were sold and wanted to go all in. Not only is it a responsible decision from an environmental standpoint, it also makes tremendous financial sense and adds millions of dollars to the overall value of our portfolio,” said Tim Gillean, president at Granite Redevelopment Properties.
The 15-MW and 40,000-panel solar project is expected to be complete in July 2022.
“Granite is setting a trend for owners of Class B and C apartments — and potentially the entire multifamily industry. By removing one of the biggest expenses for many landlords with rooftop solar panels and solar carports, the math is hard to argue with,” said Travis Wildeman, CEO of The Solar Company.
News item from The Solar Company
