Montecito Club
Montecito Club, a 308-unit multifamily property in Arlington, TX, successfully deployed an onsite 405 kW solar system. The solar PV system significantly enhanced NOI and tenant satisfaction.
System Size
405 kW
Location
Arlington, TX
Units
308 units
Project Overview
Montecito Club is a 308-unit multifamily property located in Arlington, Texas. The property owner was looking for ways to increase NOI while also providing value to tenants and reducing the property's environmental impact.
Shine designed and installed a 405 kW solar PV system across multiple rooftops, carefully engineered to maximize energy production in Texas's climate. The system was completed in 2022 and has been generating significant returns since installation.
Results
The solar installation at Montecito Club has generated $117,831 in additional NOI annually, representing a significant boost to the property's financial performance. This translates to approximately $382 per unit in increased NOI.
Beyond the financial benefits, the property has reduced its carbon footprint by approximately 570,000 pounds of CO₂ annually, equivalent to planting over 4,200 trees each year.
Implementation Process
Assessment
Comprehensive site assessment and energy usage analysis to determine optimal system size and configuration.
Design & Permitting
Custom system design and handling of all permitting requirements with local authorities.
Installation & Monitoring
Professional installation and implementation of real-time monitoring systems for ongoing performance tracking.
Financial Impact
$117,831
Annual NOI increase
$382
NOI increase per unit
3.9 yrs
Payback period
Environmental Impact
570k
Pounds of CO₂ avoided annually
4,200+
Equivalent trees planted yearly
547 MWh
Clean energy produced annually
Testimonial
“Prior to finding Shine, there was no way to invest in solar for the whole building (common area AND tenant meters). Once we discovered Shine, we've incorporated solar into every deal we underwrite. We now see our roofs as income generating instead of a potential liability.“
Berndt Perl
Managing Partner of APF Properties
Ready to increase your property's NOI with solar?
Contact us today to learn how Shine can help your multifamily property achieve similar results.