Six-property multifamily portfolio. Virtual net-metering delivers ~$30/mo bill credits to 380 resident units. State LIHEAP incentive stacked.
Six low-income multifamily properties across Newark and Irvington. Owner wanted to deliver direct utility-bill relief to residents while qualifying for state incentives that boost the project IRR. Roofs varied widely in age and condition; two needed replacement before solar could be installed.
Phased deployment over 14 months. Two roofs replaced under separate roofing contracts (Reliant coordinated scheduling but the re-roofing was direct-billed to owner). Virtual net-metering structure: production at three larger sites credits all 380 resident units pro-rata. State LIHEAP-adjacent incentive stacked on top of federal ITC, depreciation, and SREC.
Average resident bill credit: $30/month, year-round. Incentive stack pushed project IRR to 14% net after all financing. Two property roofs got 25-year replacements they would have had to fund within 5 years anyway. Owner now in design phase for second portfolio of nine more buildings.
Bill credits hit residents' accounts in the second month after PTO. Nobody had to fill out a form. That's how it should work.
Testimonial pending client release
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