Capturing the sun : how to monetize solar energy in multi-family developments

Abstract

Solar energy has become increasingly accessible. By 2020, forty-two states are expected to reach grid parity. However, most of the 39 million residents who live in 5+ unit multi-family buildings in the United States lack access to alternative, affordable green energy sources such as solar. This thesis recognizes the perception of the lack of financial incentive for the capital providers as one of the key reasons for the slow adaptation and endeavors to assess whether owners and developers of multi-family developments can generate income from solar investment in their communities within the state of Massachusetts. The paper views solar energy through the investors' lenses and seeks practical solutions while exploring all the applicable federal and state programs to determine the best investment strategy for decision-makers. It reviews the tangible and non-tangible benefits of solar energy in multi-family communities and concludes that there are strategic pathways for the adoption of solar energy at multi-family properties that, in addition to societal and economic benefits for the community, are financially desirable for property owners. In today's highly competitive market, where innovators are constantly pushing to find untapped value, solar energy not only provides attractive financial returns but also differentiates the asset and enhances its value.