KAYE STERN

by | Nov 1, 2023 | Uncategorized

KAYE STERN

ABOUT

Welcoming all Housing Choice Voucher Program and Section 8 Voucher recipients, Kaye Stern have successfully developed and manage over 300 properties across Washington DC. With Kaye Stern managing a multi-year acquisition, construction and rehabilitation schedule, little time was left to investigate and execute solar projects. Prism Solar worked to ensure that the entire portfolio was analyzed, and that a turn-key solution could be executed for both immediate and future project opportunities. The three multi-family properties developed as part of this case study are a prelude to an ongoing relationship that will see solar, battery and energy efficiency improvements are executed on projects in Washington DC and Maryland.

COMMUNITY SOLAR AND ROOFING

Prism Solar and Kaye Stern Properties have partnered to develop over 100 kW of capacity across three multi-family affordable housing properties in Washington DC. With a project portfolio of over 300 residences throughout the District, Kaye Stern required a full analysis of each project in order to identify which buildings were suitable for community solar. In addition, some viable projects were scheduled for roofing replacement within the next few years. In order to execute the project, Prism Solar worked with Metropolitan Exteriors to fully finance the community solar system, fully replace two buildings with new TPO roofing material, and create an additional ongoing revenue stream for Kaye Stern through the benefits of solar. Subsequent to the initiation of the project, Prism Solar worked with Enflection to have the project successfully approved as part of the Department of Energy and Environments ‘Solar for All’ program – ensuring all solar energy generated is provided at no cost to low-income residents.

PROJECT DESIGN & CONSTRUCTION

A CONSULTATIVE APPROACH

In conjunction with Metropolitan Exteriors, Prism Solar:

 

  • Proposed an innovating rooftop lease model whereby Kaye Stern were able to immediately monetize their rooftop, and generate a long-term revenue stream.
  • Financed roof replacement through solar revenues in partnership with Metropolitan Exteriors
  • Were responsible for project design and estimation, engaging financing partners, and coordinating approvals from lenders
  • Ensured the project was submitted as part of the Solar for All 2019 program operated by the Department of Energy and Environment (DOEE) through a partnership with Enflection
  • Developed an innovating onboarding system for residents to complete their applications as part of the DOEE ‘Solar for All’ program

Once permitting and PEPCO approvals were received, roof replacement was scheduled and executed The project was constructed in under 3 months using market leading components that maximized the value of the solar system for the customer.

PROJECT SUCCESS METRICS

Project Information

Customer Benefits

Community Solar Benefits

Project Size = 104 kW

Customer Out-of-Pocket = $0

Total Savings = +$238K

Number of Panels = 315

Construction time = 3 Months

Resident Savings PA =$420

Location = Washington DC

Immediate Additional Revenue

Households Powered = 37

PROJECT DESIGN & CONSTRUCTION

A CONSULTATIVE APPROACH

In conjunction with Metropolitan Exteriors, Prism Solar:

 

  • Proposed an innovating rooftop lease model whereby Kaye Stern were able to immediately monetize their rooftop, and generate a long-term revenue stream.
  • Financed roof replacement through solar revenues in partnership with Metropolitan Exteriors
  • Were responsible for project design and estimation, engaging financing partners, and coordinating approvals from lenders
  • Ensured the project was submitted as part of the Solar for All 2019 program operated by the Department of Energy and Environment (DOEE) through a partnership with Enflection
  • Developed an innovating onboarding system for residents to complete their applications as part of the DOEE ‘Solar for All’ program

Once permitting and PEPCO approvals were received, roof replacement was scheduled and executed The project was constructed in under 3 months using market leading components that maximized the value of the solar system for the customer.

PROJECT SUCCESS METRICS

Project Information

Project Size = 104 kW

Number of Panels = 315

Location = Washington DC

Customer Benefits

Customer Out-of-Pocket = $0

Construction time = 3 Months

Immediate Additional Revenue

Community Solar Benefits

Total Savings = +$238K

Resident Savings PA =$420

Households Powered = 37