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![Page 1: SOLARA : Green, Smart, Sustainable Development Anne Wilson Vice President Real Estate Development Community HousingWorks IPED - Investing in the Future.](https://reader035.fdocuments.in/reader035/viewer/2022062618/551481d6550346b0158b5871/html5/thumbnails/1.jpg)
SOLARA: Green, Smart, Sustainable Development
Anne Wilson Vice President Real Estate Development
Community HousingWorks
IPED - Investing in the Future
February 21-22, 2008
![Page 2: SOLARA : Green, Smart, Sustainable Development Anne Wilson Vice President Real Estate Development Community HousingWorks IPED - Investing in the Future.](https://reader035.fdocuments.in/reader035/viewer/2022062618/551481d6550346b0158b5871/html5/thumbnails/2.jpg)
SOLARAThe first apartment complex in CA fully powered by the sun
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SOLARA
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![Page 5: SOLARA : Green, Smart, Sustainable Development Anne Wilson Vice President Real Estate Development Community HousingWorks IPED - Investing in the Future.](https://reader035.fdocuments.in/reader035/viewer/2022062618/551481d6550346b0158b5871/html5/thumbnails/5.jpg)
SOLARA = Photovoltaic Electricity for residents and common area
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SOLARA Photovoltaic
Cost (approx) $1,103,000
Sources
CEC Rebates (State) $409,000 Tax Credit Basis Boost (State) 405,000 Investment Tax Credit (30%) (Fed) 208,000 Perm Mortgage (project based UA) 81,000
Total Sources $1,103,000
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CA Green Initiatives
• CA Tax Credit Agency:-5% basis boost for PV-4% basis boost for energy efficiency/Green
-Note: 9% deals pay for PV 100%; 4% doesn’t • California Energy Commission/Public Utility
Commission-Rebates New Construction (decrease as more built)-Grants to Nonprofits to provide TA, training, modeling
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CA – High Energy Efficiency Standards
California’s Energy code- “Title 24” since 1974 Perspective: If CA not changed code in
1974, would need 1 nuclear plant every 8 miles between San Diego and San Francisco!
Per Capita Energy use in CA – lowest in US, level
SOLARA exceeded CA Title 24 by >42% (2001) SOLARA exceeded national IBC ASHRAE 2001
standards by 80%!
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What is Green?
Not Just photovoltaic electricity What 5 elements make a project “green”?
Energy Efficiency - Reduce energy demand by 60-70%, use renewable energy to supply balance of demand
Renewable(s) – Energy Supply Water Efficiency Recycled / Recyclable Materials Indoor Air Quality (IAQ)
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SOLARA Green Elements: Site
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Public Art
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Policy Needs - Funding
State and Local Gov must support PV and Green - Rebates work best
Federal ITC – excellent, preserve Local Gov - Expedite permits and review process Utility Companies – create incentive & expedite
programs Requires state by state policy changes
(federal Section 42 incentives? Programs to help projects plan retro fit of existing
utilities to address potential spike in op expenses.
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SOLARA Photovoltaic