Solar Panels on Multifamily

[Gregory Schwartz]

I know submetering is a commonly used method to lower cost and increase NOI on apartment buildings. Is anyone using solar panels for a similar effect? I'd be interested in anyone who has successfully used solar panels and what they saw in terms of cost savings?

My rough math seems promising....

10kw/year kit cost roughly $18-20k with the installation

Savings based on pvwatts.nrel.gov (in the Austin TX area) = $1700 / year

Cash on Cash = 9%

ARV based on 6 CAP increase = $28,000 (47% return on investment)