The Preservation Equity Fund selected GRID Alternatives to install solar on Dover Woods Senior Apartments, a 200-unit affordable housing community in Fairfield, California. The 425kW project will deliver an estimated $2,333,914 in electric bill savings and avoid almost 13,000 tons of carbon emissions over the lifetime of the system. GRID is partnering with LA Solar Group on the installation, scheduled to be completed by the end of July 2022.
The Dover Woods project is made possible through the Solar on Multifamily Affordable Housing program (SOMAH), which is a California-based incentive program that is designed specifically to benefit the tenants of multifamily affordable housing units. SOMAH provides capacity-based incentives for qualifying solar PV systems. To learn more about SOMAH visit https://calsomah.org/.
As with all SOMAH projects, tenant engagement prior to construction was conducted via newsletters and emails to residents with changes to expect with SOMAH, solar training opportunities, and resources for additional support and information. Two qualified trainees from GRID have completed a total of 160 hours on project development and installation for this project. After installation, there will be an in-person tenant workshop covering SOMAH-approved information on energy efficiency and bill interpretation.
GRID Alternatives’ Energy Resilience Fund supported the project with construction financing, providing a low-cost bridge loan secured by the SOMAH rebate to assist with upfront costs associated with the project. Energy Resilience Fund is a mission-driven investment and loan fund that enables GRID to facilitate community-led development and ownership models creating opportunities for community partners to tap into outside capital like rebates and tax equity investments to get their projects off the ground.
GRID’s Energy Resilience Fund has secured funding from philanthropic partners to provide low-cost bridge loans for affordable housing providers with reserved SOMAH rebates through the SOMAH program. Download GRID’s Bridge Loan Offering brochure.