Soltech Electric is pleased to announce that they will be installing a 71 kW PV system (over 200 PV modules) on the roof of Carrillo and Sons Collision Center, located in San Diego, CA.
Although many bids were on the table, no other solar contracting company was able to secure financing for Carrillo and Sons Collision Center (auto body/collision/paint/oil change shops are very difficult to secure financing for). Furthermore, they guided their client through the phase one state-mandated environmental study of their facilities, and they passed!
Their professionals at Soltech Electric were also able to secure YGRENE PACE financing for their client, which requires an approval and underwriting process. The great news is, the client will be receiving a brand new layover TPO roof, with all new LED lighting throughout the whole facility and office, and a PV solar system that will reduce their current SDGE electricity bills by 400-500%.
Why Soltech Electric For This Solar Panel Installation San Diego
At first glance, this may seem like any other PV install and small feature, but it is truly incredible to help a thriving, family-owned business save thousands of dollars on their first monthly bill, and potentially up to $2M over the next 25-30 years.
Soltech Electric has shifted the company’s focus, they want to specialize in commercial applications to help building and business owners see the incredible benefits of going solar. In the words their clients, it is a “win, win, win” situation. They think they can tac on a couple more “wins”, with the benefits that their customers have received:
- No money down, no money out of pocket. Carrillo and Sons is re-allocating current expenses and taking control over their electricity bill, which will keep hard earned money in their pocket. Their current SDGE electric bill is approximately $5,000 a month. Their new SDGE electric bill, plus the monthly financing for the total scope of work (including roofing, lighting and solar) will be well under $5,000.
- Carrillo and Sons will receive a brand new roof, which is eligible for the 30% Federal Investment Tax Credit, since it is included in the scope of work for the solar project. The client is financing the roof in the total scope of work, and the new roof will increase the property’s curb appeal.
- The client will receive all new LED lighting throughout the entire facility, which will reduce their electricity bill by an additional $300-350 per month. LED lighting is much different than fluorescents- a standard T5 is essentially a gas that is encased in a bulb, with the molecule vibrating to produce light. LED lighting improves the work environment for everyone, including those in the office and shop.
- YGRENE financing is a PACE loan, but is positioned as a Mella-Roos. Essentially, this means that it is the only one of its kind, compared to all of the other PACE financing companies. It is classified as a Mella-Ross under state code and governing law, so the loan appears on the client’s property tax bill, rather than being introduced as a direct expense. This makes for a clean, transparent write off of the loan, if applicable.
- Furthermore, because of how the loan is positioned in the books, it technically increases the client’s debt to income ratio. Since it is not a credit based loan, but an equity-based loan, it doesn’t show up on a credit report. This essentially means that the client’s assets are increasing (new roof/lighting/solar) and their utility bill (monthly expense) is reduced.
- Clients may be eligible, based on their tax appetite and advice from their CPA, to receive even more tax relief. When applicable, clients can depreciate the system with a Federal MACRS, and also a State MACRS, to accelerate depreciation scheduled on their taxes. This equates to instant tax savings, which can be realized in as little as 5-7 years with 50% up-front.
- Carrillo and Sons will be receiving a complete main panel upgrade. They currently run the shop on an unoptimized 4-meter, 4-main panel system that causes spikes and an unequal energy allocation. The whole shop will be de-energized to perform a main panel upgrade to a custom-made 800Amp, one meter, service panel. This allows for more circuits and battery storage, which can easily be installed in the future.
In summary, the overall impact of solar energy is astronomical for any small business. With Carillo and Sons, their total bill for the first month will be less than their current bill, with no money down. They can receive major tax relief within a year, if applicable. The property’s value is increased, with all of the upgrades and the loan is on their property tax, so it is a seamless transfer if the owner decides to sell the building in the future. The client will realize in savings, not hundreds of thousands of dollars, but potentially up to 2 million dollars in savings over the life PV system.
What This Solar Panel Installation Will Mean For The Client
As the client receives benefit and saves, they can easily optimize their system to reduce unavoidable SDGE charges, with more efficiency. This will allow the client to utilize battery power to run the shop and help if there is ever a rolling brownout, which can happen to commercial properties.
Soltech Electric is pleased and excited to be able to get this project done for Carrillo and Sons Collision Center, and deliver an exemplary service. They are also in the process of securing and installing a system for a 36-unit apartment building that is currently sub-metered. In addition, they are pursuing a project with a building owner that has 3 business owner tenants. Both of these installs are very tricky and require a complete understanding of the delicate relationship between master meter billing (SDGE owned), and the tenant’s meters (building owned sub meters).
Soltech Electric also works with nonprofits, such as churches, as has multiple financing options to be help these establishments save money and utilize tax relief. They are in the process of doing a similar sized 72 kW system for a local church, so they welcome any recommendations for local churches who can save and benefit immediately.
Please reach out to the owner of Soltech, Brad Goodin, directly at 858-243-7247 or email@example.com if you know of a building owner, or even a tenant, that may be able to push for a revolutionary PV upgrade. Once explained correctly, the Carillo and Sons client acknowledges that it is, in-fact, a “Win Win Win Win Win Win Win”.