Taylor Morrison / Yardly
Portfolio Energy Program
Solar + battery across three Florida Yardly communities — 731 homes — with optional EV charging. Taylor Morrison owns the systems, claims the tax credits, and earns new monthly income below utility rates. Zero capital required. Figures at the 40% ITC (30% federal base + 10% domestic content).
Explore each community — site analysis & financials
Battery is standard (a shared common-battery plant bundled with rooftop solar on every unit, blended ~$10,000/unit), not a paid add-on. Tenant pricing is set at utility parity by bedroom. EV charging remains optional (35% uptake modeled). Figures use the 40% ITC (30% federal base + 10% domestic-content bonus for U.S.-manufactured equipment); the 30% base is the conservative floor. Because the shared-battery configuration keeps the install at $10,000/unit, the portfolio is cash-flow positive from month one — even before credits land. Under OBBBA the systems must be placed in service by December 31, 2027 to claim the ITC — NOI's ~5-month build timeline makes a 2026 signature comfortable, but the buffer shrinks monthly.
How it works — in plain English
Across all three communities — 731 homes — Taylor Morrison / Yardly buys a complete solar-plus-battery system (building-rooftop solar plus shared common battery storage, allocated per unit) and pays for it over 25 years, like a mortgage on the equipment. Because Taylor Morrison owns it, the federal government returns large tax credits — 40% ITC + MACRS — which Taylor Morrison applies to the loan to cut the real monthly cost. Tenants pay about what they pay the utility today, for clean power, battery backup, and a locked rate. Taylor Morrison keeps the spread. The transaction is structured as a capital lease — Taylor Morrison holds the systems as owner for tax purposes (which is what unlocks the ITC and MACRS) and pays NOI fixed monthly lease payments over 25 years. EV charging is offered as an optional add-on.
The numbers — 731 homes, solar + battery standard, 40% ITC
The money Taylor Morrison gets back — Year 1 (40% ITC)
Base case shown at the 40% ITC (30% federal base + 10% domestic content). Systems financed at 8.99% over 25 years on the full $7,947,500 cost; ITC and MACRS (21% corporate tax, 100% bonus) are returned ~18 months after install and applied to reduce the loans. If the domestic-content bonus is not secured, the 30% base ITC ($2,384,250) applies and the all-in cost rises to ~$47/unit. Under the One Big Beautiful Bill Act, construction must begin by July 4, 2026 — or the systems must be placed in service by December 31, 2027 — to claim the ITC; NOI’s ~5-month build timeline keeps a 2026 signature comfortably inside the window. The tenant-NOI figures assume full occupancy: at 95% occupancy portfolio NOI is $803,652, at 90% $742,200 (see sensitivity below). Consult your accountant — NOI is not a tax advisory service.
Occupancy sensitivity — disclosed and stress-tested
Tenant-paid solar revenue scales with occupancy; the NOI loan payment does not. The base case models full occupancy. The table below stress-tests the portfolio at 95% and 90% occupancy — because the shared-battery configuration keeps the post-credit cost at ~$38/unit, the program stays strongly cash-flow positive even at 90%.
| Occupancy | Tenant NOI / yr | Change vs base |
|---|---|---|
| 100% (base case) | $865,104 | — |
| 95% occupancy | $803,652 | −$61,452 |
| 90% occupancy | $742,200 | −$122,904 |
Taylor Morrison / Yardly can generate $865,104 in new Year-1 NOI across three Florida communities through a solar-plus-battery program — standard on every unit — with optional EV charging, zero upfront investment and zero operational risk. Taylor Morrison owns the systems (financed by NOI over 25 years), and at the 40% ITC the federal credits bring the real running cost to roughly $38/unit/month. Tenants pay about what they already pay the utility, but get clean power, battery backup and a locked rate; Taylor Morrison keeps the difference. Over 25 years the program creates ~$45.96M in value — $31.54M of cumulative tenant NOI and $14.42M of asset appreciation. Three communities selected as a representative pilot across the Taylor Morrison Florida portfolio: the program scales across the full footprint on the same per-unit economics — and can be designed into future Taylor Morrison developments from day one. Open each community above for its site analysis and financials.
Timing — the federal ITC window
NOI is a solar income platform built for residential real estate operators — turning rooftops into recurring revenue streams across multifamily, SFR and BTR communities, with zero operational burden on the landlord.
Before NOI, our founders spent years inside real estate portfolios and energy companies across the US. They saw the same pattern at every multifamily, BTR, and HOA property: rooftops sitting idle while energy bills kept climbing for tenants and owners alike. Solar was the obvious answer — but the existing model was broken. They decided enough was enough.
The Team
What NOI handles end-to-end
All solar modules are BloombergNEF Tier 1 rated — the industry gold standard for bankability, manufacturing scale, and long-term reliability. Rooftop solar and a shared common-battery plant are installed as standard, serving every unit. The base 30% ITC is increased by a 10% domestic-content bonus for U.S.-manufactured equipment meeting FEOC sourcing — the 40% ITC used in this model.
☀️ Solar Array
| Component | Spec | Origin | Rating |
|---|---|---|---|
| Solar modules | SEG Solar 420W · ~3 kW allocation per unit | U.S. — Houston, TX | BNEF Tier 1 |
| Inverters | EcoFlow PowerOcean hybrid inverter | EcoFlow | 97.8% peak efficiency |
| Racking | IronRidge XR100 rail system | U.S. — Hayward, CA | UL 2703 certified |
| Wiring & BOS | PV wire, combiners, disconnects | U.S. sourced | NEC 2023 compliant |
🔋 Battery Storage — EcoFlow PowerOcean (shared common plant, standard)
⚡ EV Charger — EcoFlow Level 2 Smart Charger (optional)
What tenants get — across every community
Every unit gets a solar allocation and battery backup as standard. Tenants pay about what they pay the local utility today — but now for clean power, battery backup during outages, and a rate locked under the community's control. EV charging is available as an option. It fits the Taylor Morrison commitment to quality and doing what is right: one simple charge, no utility enrollment, no rate surprises.
A rooftop-solar allocation plus shared EcoFlow PowerOcean battery storage, serving every unit. The tenant pays a fixed community fee at about their current utility bill, but gets battery backup and a locked rate.
A Level 2 charger in the community parking area, charging overnight from rooftop solar — at a fraction of public charging costs. The one optional upgrade.
A representative tenant bill — Florida two-bedroom (FPL)
Below is a representative Florida two-bedroom electric bill (~750 kWh). Today the tenant pays the utility a fixed customer charge plus a usage charge. With a rooftop-solar allocation + battery, the unit draws most of its power from solar — so the usage charge is replaced by a single solar charge to the community, while the tenant keeps full grid access for backup. Figures are representative; Taylor Morrison can supply an actual tenant bill per community and we will set true parity.
Water, trash and every other charge are unchanged — only the electricity supply changes. The tenant pays the community for solar instead of paying the utility for usage, and keeps the small fixed connection fee.
The unit stays connected to the local utility (FPL or Duke Energy Florida by community). The tenant keeps full backup access to the grid and pays the utility's small fixed connection fee (~$10–14/mo). Because the rooftop solar and battery produce most of the unit's electricity, the tenant draws little from the grid, so the utility's usage charge is replaced by one solar charge from the community. On cloudy stretches or peak demand, the unit pulls from the grid automatically, exactly as before.
NOI’s all-in cost to Taylor Morrison is ~$38/unit/month. You set the tenant’s solar rate by bedroom — anything above ~$38 is your margin. The financial model uses parity estimates of $95 (1BR), $125 (2BR) and $150 (3BR); the actual rate is yours to set against each community’s real tenant bills.
Greatweek is NOI's separate, in-house billing platform (greatweek.com). Taylor Morrison / Yardly can use Greatweek to manage the energy program in one place — or keep everything inside its existing Entrata tenant portals and handle energy as a line item. Energy billing, rent collection, tenant communication, collection reminders, payouts, and solar production monitoring are all integrated. Taylor Morrison is not required to use the platform, but it eliminates manual reconciliation — especially given the platform is directly integrated with the EcoFlow inverters and battery systems.
- Program scope
- 731 homes across 3 Florida communities (Yardly Artisan Lakes, Yardly Mount Dora, Yardly Mount Dora Groves)
- Ownership
- Taylor Morrison owns the systems & claims ITC + MACRS
- Capital required
- $0 — financed, zero out-of-pocket
- Financing rate
- 8.99% over 25 years — sourced by NOI
- Standard offering
- Solar + shared battery on every unit (blended ~$10,000/unit); EV optional
- Tenant pricing
- Utility parity (~$95–180/mo by bedroom); up to 3% annual escalator
- NOI all-in cost to Taylor Morrison
- ~$38/unit/month at 40% ITC (~$47 at 30% floor)
- Platform / service fee
- $0 if Taylor Morrison self-bills — Taylor Morrison keeps the full spread
- Occupancy assumption
- Full occupancy modeled; at 95% tenant NOI is $803,652/yr, at 90% $742,200/yr
- Annual NOI
- $865,104 Year-1 tenant NOI at full occupancy · asset lift +$14.42M @ 6% cap · ~$45.96M 25-yr value
- ITC
- $3,179,000 (40%: 30% federal base + 10% domestic content); 30% base floor $2,384,250
- ITC placed-in-service deadline
- December 31, 2027 (OBBBA) — systems must be installed, interconnected and producing by this date. NOI build timeline ~5 months from signature; a 2026 construction start also locks the easier 2026 FEOC domestic-content thresholds (50% vs 55% in 2027)
- Exclusivity window
- 90 days from signing
- Offer valid until
- August 31, 2026
Per-community schedule (40% ITC base case)
| Community | Units | Utility | Tenant charge (blended) | System cost | ITC (40%) | Annual NOI |
|---|---|---|---|---|---|---|
| Yardly Artisan Lakes | 192 | FPL | ~$110/mo | $2,087,500 | $835,000 | $190,008 |
| Yardly Mount Dora | 309 | Duke Energy Florida | ~$132/mo | $3,360,000 | $1,344,000 | $386,856 |
| Yardly Mount Dora Groves | 230 | Duke Energy Florida | ~$132/mo | $2,500,000 | $1,000,000 | $288,240 |
| Portfolio total | 731 | — | parity | $7,947,500 | $3,179,000 | $865,104 |
Buy-Out, Transfer & End-of-Lease Options
At any point after Year 5, Taylor Morrison can buy out a lease at fair market value and assume full ownership.
On sale, a lease transfers to the incoming owner for the remainder of the term — seamless, no revenue disruption.
Extend at reduced cost, upgrade to new equipment with a fresh lease, or take full unencumbered ownership. Panels expected to produce ≥80% capacity well beyond year 25.
By executing below, Taylor Morrison / Yardly authorizes NOI to proceed with site survey, system design, capital-lease structuring, and permitting across the three communities. Unit counts, unit mixes and parity charges shown are estimates from public listing data and market rates; final figures are confirmed against Taylor Morrison's rent roll and actual tenant bills at survey.
Offer valid through August 31, 2026 · Questions? joinnoi.com