H&S Properties, a prominent commercial real estate (CRE) company, has successfully implemented a cutting-edge solar installation on their research and development (R&D) facility in Redwood City, California. With a capacity of 623kWp, the installation encompasses both the rooftop and carport areas. SolarEdge’s DC-optimized technology was carefully selected for this project to maximize energy generation and enhance profitability for H&S. The company plans to store the generated energy for utilization by its tenants. Having recently become operational, the installation is projected to generate an impressive 950,000 kWh of electricity annually, accounting for approximately 78% of the building’s total energy consumption.
The tenants of the building consist of four research and development (R&D) companies engaged in diverse projects, including DNA research and the advancement of solar windows. H&S Properties, the property owner, has devised a strategic approach by selling the onsite generated energy to its tenants. The energy will be offered at a rate approximately 10% lower than the cost of grid-supplied electricity. This arrangement not only presents an attractive opportunity for the tenants to make substantial savings but also anticipates further advantages as energy prices continue to rise.
Robert Hymes, Chief Development Officer at MYNT Systems, emphasizes the remarkable opportunity solar energy presents for commercial real estate (CRE) owners to significantly enhance the value of their properties and increase their appeal to potential tenants. With vacant properties being a major concern for building owners, offering access to sustainable and cost-effective energy holds tremendous allure for prospective tenants. Remarkably, some companies now have a prerequisite that any building they occupy must have solar power. Fortunately, these buildings often feature ample empty roof spaces. By harnessing SolarEdge technology, these unused areas are transformed into valuable, passive tenants for CRE owners.
The comprehensive solar installation comprises 1,299 bifacial solar modules that have been upgraded to smart modules using SolarEdge Power Optimizers. Additionally, the system incorporates two SolarEdge DC-optimized inverters and a battery for efficient energy management. By employing the SolarEdge solution, the installation achieves optimal solar energy generation by mitigating challenges such as shading, module degradation, and soiling. Unlike traditional string-inverter systems, SolarEdge technology overcomes these limitations, ensuring maximum production.
An added advantage of the SolarEdge solution is its ability to monitor each pair of modules independently and in real-time. This feature was a crucial consideration for MYNT Systems, the company responsible for maintaining the system. With module-level monitoring, MYNT Systems can promptly identify and address potential issues, minimizing on-site maintenance time and maximizing system uptime. Furthermore, the granular data collected through monitoring enables highly accurate production information, which MYNT Systems utilizes to provide precise billing information to H&S Properties, the system owner, for their tenants.
Hymes states,”Solar is much more than a technology that reduces energy bills – for CREs it actually provides an opportunity to increase the value of their buildings. When speaking with clients, we tend to talk less about kW/h production and more about the impact solar has on rental prices and tenant retention. Our clients are not solar experts, but they understand those metrics very well. By speaking the industry’s language, we are able to convey the advantages of solar power to a much wider audience.”