Presentation on theme: "SOLARA : Green, Smart, Sustainable Development Anne Wilson Vice President Real Estate Development Community HousingWorks IPED - Investing in the Future."— Presentation transcript:
SOLARA : Green, Smart, Sustainable Development Anne Wilson Vice President Real Estate Development Community HousingWorks IPED - Investing in the Future February 21-22, 2008
SOLARA The first apartment complex in CA fully powered by the sun
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
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 >42% (2001) SOLARA exceeded national IBC ASHRAE 2001 standards by 80%!
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)
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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