My husband tells me this is a true event, although I do not have any memory of it. In 2017, I had surgery and underwent general anesthesia. When finally allowed to see me, my husband sat by my bedside waiting for me to regain consciousness. At one point, I tilted my head towards him and said in a small voice “I’m sad.” My husband looked at all the monitors and wires, the light fabric curtain separating me from another patient, the IV bags and tubes and felt unable to affect any of it positively. So, he thought, “I can do nothing about any of this, but I can be present and support her.” He gently placed his hand on my fingers and asked, “What are you sad about?” I sighed with my eyes still closed and replied, “My solar project is being installed and I am not there to see it.”
Solar has always been top of mind in our industry. However, making it pencil can be a challenge. The ROI on solar PV is not always promising even when in new construction. Considering that over 80% of energy use occurs inside the residential units which are separately metered, the payback can be long. My first solar return on investment calculations in 2012 had a payback time that exceeded fifteen years, and that was in California, one of the most expensive ISO territories in the country.
Beyond high costs in construction, which is not always conducive to solar, garden style properties have mature trees shading rooftops and carports. Mid-rise and high rise properties tend to have multiple roof levels, ventilation systems, and a plethora of HVAC systems for units and common areas which make it hard to put an array of panels anywhere that could create a great return. In some jurisdictions, there are requirements for green roofs. On retrofit, we also must consider roof life and how long ownership intends to hold the asset.
Yet, with more jurisdictions focusing on reducing energy use and carbon generation or on making their cities net zero, we are looking harder and harder at how to make solar work. The good news is we are creative, and technology is advancing beyond construction solutions to more flexible locations for solar (the first rule of real estate is location, location, location.)
Be Socratic in your consideration of solar. Can your building sustain solar power that has a positive return? What new grant, rebate and loan programs can you use to pay for it to improve the payback? Can your building be considered an energy provider and net meter the solar power back to the residents in a billing program? Can you procure solar power from offsite and use that energy to offset your energy for compliance?
By optimizing your approach there can be substantially better payback than what you are expecting. The point is, do not wait until the anesthesia kicks in to really contemplate solar.
