Historically, solar has been slower to penetrate the commercial real estate market than the residential market for one reason: building ownership. Tenants who wish to lower their electricity bills by installing solar come across the split incentive problem. Property owners are generally not motivated to pay for a capital energy project when it is the tenant who pays the electricity bill. Likewise, a tenant is not incentivized to pay for a large solar project on a building they do not own.
For the past few years, EVA Green Power has been tackling this dilemma with an innovative solution called the Tenant Power Program. This program ensures a tenant’s transition from high-cost utility rates to lowcost solar is as simple as possible. EVA provides qualified tenants with a fully operational and paid solar system while managing all negotiations with the building owner.
How does the Tenant Power Program work?
EVA Green Power takes on the full responsibility of the project including investment, permitting, installation and monitoring. The process is done in three steps:
First, our licensed engineers assess your current electricity use and determine what type of solar system your premises needs. This crucial step not only calculates your annual energy savings but also ensures you are receiving only what you need to cover your electricity usage. Second, we coordinate the installation with the building owner. Third, we schedule and install your new solar system.
What about building owners?
Tenants aren’t the only beneficiaries. Building owners are also embracing the program because of the variety of economic and environmental benefits. For example, solar adds an immediate amenity, which can attract new tenants. Likewise, solar also helps with company-wide sustainability efforts, such as obtaining LEED certification credits and reducing annual greenhouse emissions.
For more information visit evagreenpower.com