Distributed generation company Aspen Power has completed the installation of a rooftop photovoltaic (PV) system at a newly constructed multifamily complex in Davis in northern California.
The rooftop solar project, which was carried out in partnership with residential real estate developer The Michaels Organization, is expected to generate approximately 476.5 MWh of electricity in its first year of operation, resulting in the avoidance of 380 metric tons of CO2 emissions. This emission reduction is equivalent to keeping 781 barrels of oil in the ground, Aspen says.
“This project aligns perfectly with Aspen Power’s mission, as we scale with The Michaels Organization, while providing access to renewable energy options for those who need it the most,” said Jake Blaine, Senior Vice President, Multifamily, Aspen Power. “We are proud to have partners like The Michaels Organization who share our vision and embrace the value of transitioning to a clean energy future.”
It adds that this collaboration marks the beginning of a series of projects between Aspen Power and The Michaels Organization, serving as a blueprint for future developments.
The PV system is expected to offset around 20 percent of the building’s total annual energy consumption, which would otherwise be provided by Pacific Gas & Electric (PG&E). According to the solar firm, residents of the newly opened apartments can expect to save an average of 5 percent on their electricity bills as a direct result of the solar installation.
Aspen was responsible for the project’s development, providing a turnkey solution that included all stages, from engineering and procurement to installation and interconnection with PG&E. Under the deal, the company will retain ownership of the project and ensure panel maintenance throughout its lifespan.
The solar rooftop project not only allows The Michaels Organization to increase net operating income and asset value but also enables it to meet California’s Title 24 requirements, which mandate multifamily properties to generate renewable energy on-site.
“We are excited about the completion of the rooftop solar project at our Chiles Road apartments in collaboration with Aspen Power,” said Scott Cooper, Vice President, The Michaels Organization. “By incorporating clean energy technology, we can offer our tenants the dual benefits of environmentally friendly power and reduced energy costs.”
In a recent development, Aspen Power acquired solar energy solutions provider Safari Energy. The acquisition includes over 70 existing projects in California, featuring a total solar capacity of 38 MW.