Commercial real estate (CRE) company H&S Properties has commissioned a 623 kW rooftop and automotive solar installation at its research and development (R&D) facility in Redwood City, California. SolarEdge’s DC-optimized technology was selected for the project to maximize energy production and profitability for H&S, which will store energy for use by its tenants. Now in operation, the installation is projected to meet about 78% of the building’s total energy needs.
The building’s tenants consist of four research and development (R&D) companies working on projects ranging from DNA research to solar window development. H&S Properties will sell the energy generated on site to its tenants at about 10% below the cost of supplied electricity, enabling significant savings that are expected to increase as energy prices rise.
“Solar is a great opportunity for CRE owners to significantly increase the value of their properties and make them more attractive to potential tenants,” said Robert Hymes, chief development officer of installer MYNT Systems. “For building owners, the biggest thing keeping them awake at night is thinking about vacant properties. Providing access to sustainable, low-cost energy is incredibly attractive to prospective tenants, and in fact, we’re finding that some companies now have a mandate that any building they occupy must have solar power. The good news is that these buildings usually have large, hollow roofs. Using SolarEdge technology, we turn that empty space into an efficient passive, high-value tenant for the building owner.”
The solar installation includes two-way solar modules upgraded to smart modules with SolarEdge Power Optimizers, two SolarEdge DC-optimized inverters and a battery.
“Solar energy is much more than a technology that reduces energy costs. For CREs, it actually provides an opportunity to increase the value of their buildings. When talking to clients, we tend to talk less about kWh production and more about solar’s impact on rental rates and tenant retention. Our customers are not solar specialists, but they understand these indicators very well. By speaking the language of the industry, we are able to communicate the benefits of solar power to a much wider audience,” Hymes said.
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