If you’ve got multifamily properties in Southern California, now is the time to take advantage of the new SoCalREN program. The program provides $550 – $1200 per apartment for an energy and water retrofit project that achieves 10-30% in projected savings. Best of all, SoCalREN will also pay for an initial assessment fee, so there is no upfront cost to get started.
Bright Power’s engineering team is currently in the process of bringing over 30 properties totaling over 10,000 apartment units through this program. We are finding all kinds of opportunities: ultra low-flow toilets, domestic hot water recirculation controls, LED lighting, variable speed drive pool and spa pumps, and managed irrigation programs. Thanks to the SoCalREN program, these projects have a very attractive return on investment of over 25%.
By taking a portfolio-level approach, we are able to work through a portfolio of properties all in one shot. Both Bright Power and our clients benefit from the economies of scale, making the project financials more attractive and reducing the overall time required from our clients.
As is true with all incentive programs, funds are limited so you must act fast.
For more information, contact Greg Sherman at gsherman@brightpower.com