IN THE BLACK IN 18 DAYS!
Oakley Executive RV & Boat Storage Award-Winning Facility
Adding Solar Covered RV Shade Canopies creates a second Revenue Source!
Contract with Utility Co. for a Fixed Rate paid Monthly
Oakley Executive RV & Boat Storage owner and founder of Baja Construction, Bob Hayworth purchased, installed, owns and operates the solar [photovoltaic] system at his business location in Oakley, California. He contracts with PG&E [the utility company] selling all of the electricity produced at a fixed rate, paid monthly for a 20-year period. To do so, Mr. Hayworth entered into a Feed-in Tariff contract with PG&E creating a bankable annuity that he used to secure financing.
Revenue from Excess Electricity Covers Debt Services
PG&E is paying Mr. Hayworth monthly over a 20-year timeframe. Every kilowatt produced is fed to the electric company, and they pay him for it. The results have turned out to be far better than what Mr. Hayworth thought initially they were going to be. His solar carport “rooftop” system is covering more than the recreational vehicles under them; it covers his debt service! His storage business was cash flowing in the first 18 days! The first check from PG&E was for $34,000. The payment to the bank was $32,000, so in all actuality, his RV & boat storage was cash flowing from day one of opening.
"Solar" Allows you to Debt Service the Entire Project
The differentiating factor between a traditional storage facility and a Solar RV & Boat Storage facility is that solar allows you to debt service the entire project, and that makes it very comfortable for the bank to get a 20-year contract with the utility company ~ guaranteed payments! As long as the bank can feel comfortable with the utility company and/or an AAA creditor, the business risk of starting a solar storage facility is minimized.