SDC Energy Lets Apartment Owners Profit from California’s New Solar Mandate
San Jose, CA, December 14, 2018 – SDC Energy, a leading provider of commercial solar financing, today launches its Powering Title 24 Program with partners Baja Construction and Grid Technologies. California is the first state in the country to require solar energy on all new residential properties under three stories by 2020. Unique in the solar industry, Powering Title 24 combines solar carports, virtual net-metering software, and tax-enabled financing to help apartment builders and owners convert Title 24 mandates into long-term benefits.
“Powering Title 24 turns compliance into profits,” says Charles Schaffer, CEO of SDC Energy. “Solar carports generate tax credits and accelerated depreciation benefits that offset all of their construction costs. Working with our partners, we can build PV-powered carports essentially for free while creating a new revenue stream for multi-tenant property owners.”
Multifamily properties will see even more changes in 2019. AB 802, which will take effect in June, requires all California multi-family building owners to disclose their properties’ energy usage to reveal their level of Title 24 compliance. Leveraging solar energy will be a critical component in compliance strategies.
Powering Title 24 is a trio of services that leverage parking structures into solar generating carports, combining intelligent software that monitors the electricity produced and integrates billing systems to enable the sale of solar power to tenants. The linchpin of the program is custom financing that provides secure, flexible terms for solar installers and their customers while enabling private investors to cut their tax bills with PV incentives.
“California’s solar mandate shines new light on the value of building green communities,” says Paul Cerejo of Baja Construction. “Because we already build 70% of all multi-family carports in California and lead carport manufacturing in the solar industry, we can quickly supply builders with a very cost-effective solution.”
After installation, Powering Title 24 makes sure that the project’s electricity is distributed efficiently. “Our energy monitoring system leverages ‘virtual’ net metering to create a passive revenue stream for building owners,” explains Dover Janis, co-founder, and CEO of Grid Technologies. “Owners gain from the sale of solar while tenants save 5% to 10% on their utility bills. Plus, adding solar boosts property values up to two and a half times the cost of the installation.” Learn more, schedule a call with SDC Energy.
Established in 1981, Baja Construction, Co. Inc. is recognized nationally for its custom design-build solar carports and covered RV & Boat storage construction. With its trademark, Solar Support Systems™ structures ~ branded under Baja Carports; the company is gaining momentum in Mexico and Canada.