Optimal system design + 50% cost savings for development property

The Project

A Managing Director at a leading multifamily real estate firm, managing a $75 billion portfolio across 200+ markets, sought to implement solar energy at a new residential development in North Carolina. With the project under construction and occupancy expected in 2026, their goal was to get a rooftop solar system that maximized financial returns while meeting investor decarbonization goals. The manager required a solution that balanced optimal system size, tenant comfort, and seamless installation, all while navigating the challenges of a property with limited historical energy data and multiple utility meters.

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The Results

The traditional process of selecting an EPC provider was daunting, with proposals varying widely in cost, quality, and experience. Lumen Energy’s marketplace enabled the firm to solicit and rigorously compare multiple bids, revealing a $100K price range on a ~$300K project to identify the most cost-effective solution. This competitive bidding process saved the firm $70K on installation costs. Lumen designed a 60 kW rooftop solar system optimized for the property’s projected energy use, securing eligibility for a low-income ITC bonus. The system struck the right balance between financial returns and ESG goals, generating high NOI while ensuring a smooth integration with common-area meters. By addressing both physical and financial complexities, Lumen empowered the firm to advance its sustainability initiatives with confidence and efficiency.

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