SOLARA: Green, Smart, Sustainable Development

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SOLARA Green, Smart, Sustainable Development

• Anne Wilson
• Vice President Real Estate Development
• Community HousingWorks
• IPED - Investing in the Future
• February 21-22, 2008

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SOLARAThe first apartment complex in CA fully
powered by the sun
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SOLARA
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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 doesnt
• 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

• Californias 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 gt42 (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