As of January 1st, 2020, California updated 2019 Building Energy Efficiency Standards (Title 24, Part 6) requires all new constructions for single and multifamily homes under three stories to install solar panels.

Lowering operating costs is one of the main multifamily complexes’ owners and investors daily challenges.

The electricity rate is becoming outrageous: utility operators are increasing their rate in an average of 2.5% – 3.5% annually and, new fees are being added frequently, including the trend to switch utility customers to Time-of-Use (TOU) rate schedule, which will, for the most part, lead to even higher energy bills.

Many Green technologies can be implemented at Multifamily complexes to provide benefits and savings

The best Solar System design should offer the ability to be upgradable to more efficient solar modules without replacing the entire system. This extends the life of the system, and “future-proofs” the investment, as researchers continue to reach new efficiencies in solar cells.

Adding to the clear benefits and savings that come with installing solar systems at multifamily complexes, generous federal, state, local & utility incentives and rebates made it a smarter decision to make.

These credits and incentives can cut the actual cost of installing Solar Systems down by at least 50% or more, resulting in a higher ROI ratio and shorter payback period. Indeed, a solar system can pay for itself in just a few years; after that, it’s a pure profit center for the owners and operators.