Case StudyJune 15, 2026·9 min read
Case Study: 96-Unit Multifamily Solar Project in Tampa, FL
One property. Twelve months of data. Every number, including the ones that missed our projections.
The property
96 units, garden-style, built 2004, single-owner LLC. Duke Energy service territory. Composite shingle roof, 8 years remaining on warranty.
The system
- 480 kW DC across 14 building roofs
- Structural: no reinforcement required
- Install: 11 weeks from signed contract to PTO (permission to operate)
- Financing: 20-year PPA, 2.5% escalator, zero capex
Year-one results
| Metric | Projected | Actual |
|---|---|---|
| Enrollment | 85% | 88% |
| Gross tenant revenue | $178K | $184K |
| Net owner NOI | $71K | $73.2K |
| Tenant avg. savings vs. utility | 22% | 24% |
What went well
Enrollment beat plan thanks to a resident-manager referral program. Duke rate increase in Q3 widened tenant savings without any action on our side.
What we'd do differently
- Metering. We used VNEM through Duke's pilot program; allocation adjustments took 6 weeks each time a unit turned over. Physical submetering would have paid for itself.
- Roof age. With 8 years left on the roof warranty, we should have negotiated a shorter PPA term or a mid-term panel-removal credit.
- Comms. Some tenants didn't understand the two-bill flow (utility for base connection, NOI for solar). One consolidated bill would have cut support tickets in half.
Want to see what your roof could earn? Estimate your NOI lift or talk to our team.
Next step
See what your roof could earn.
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