How it works — in plain English
Center Creek buys the energy system from NOI and pays for it over 25 years — like a mortgage on the equipment. Because CC owns it, the government gives CC large tax credits back. CC uses those credits to pay down the loan, which cuts the real monthly cost roughly in half. Residents then pay a little less than their old power bill, and CC keeps the difference. Here is the same story in five steps.
1
NOI builds and finances the whole system — CC carries the loan
NOI designs, finances, installs and maintains everything — solar panels, battery storage and EV chargers. Center Creek takes on the loan obligation to NOI for the equipment. This is a low-risk, long-term net-positive project: in the early months — and until the ITC and MACRS tax credits are received — monthly cashflow can run slightly negative, but over the full term it turns net positive and grows. On top of the operating income, an energy-efficient system materially increases the value of the asset — a real advantage if CC later sells or refinances the property.
2
CC buys the system and pays for it over 25 years
The full system costs $1,013,054 — about $19,500 per home for solar, plus battery and EV equipment. CC buys it from NOI and pays it back at 8.99% over 25 years, just like financing a building improvement. At the full sticker price, that is roughly $164 per home per month for solar — before any tax credits come back.
3
Because CC owns it, the IRS pays CC back about $485,000
Owning the equipment (rather than renting it from a third party) is what unlocks the tax benefits. CC qualifies for the 30% federal solar tax credit (ITC) — $303,916 — plus accelerated depreciation (MACRS) worth another $180,830. That is $484,746 returned in Year 1, typically arriving about 18 months after installation.
4
CC applies that money to the loan — and the real cost drops by half
When CC puts the $484,746 in credits toward the NOI loan, the balance shrinks and the monthly payment falls with it. The solar cost drops from ~$164 to about $86 per home per month. That $86 is CC's true, ongoing cost of running the system — and it is locked in for the full 25 years.
5
Residents pay a little less than their old bill — CC keeps the difference
CC charges residents $121/home for solar — below their current JEA bill of about $152/mo, so tenants save from day one. CC's real cost is $86, so CC keeps roughly $35 per home per month. Across solar, battery and EV that is $28,295 in new annual income, rising up to 3% per year.
6
Optional: consolidated billing via Greatweek — one statement, one dashboard
This is optional for CC. NOI runs a separate billing platform —
greatweek.com — that can make collections more efficient, combining
rent, solar, battery and EV charges into a single statement for each resident and one dashboard for CC's team (rent and energy can be billed together or separated). Greatweek charges a
5% fee on payments it collects. Alternatively, CC can run billing itself and skip the 5% fee entirely — either way, the energy economics are unchanged.
What it actually costs CC — per solar home, per month
Sticker payment
$164/mo
Financing $19,500 at 8.99% / 25 yr
−
After ITC + MACRS applied
$86/mo
CC's real, locked-in cost
→
Tenant pays $121 → CC keeps
+$35/mo
Per solar home · grows 3%/yr
The tax credits aren't a bonus on the side — they're what brings the cost from $164 down to $86. After that, every resident payment above $86 is income to CC.
New annual NOI — Year 1
$28,295+
Solar + Battery + EV across 46 homes. Zero upfront investment from CC.
Capital required from CC
$0
NOI provides all financing, equipment, installation & maintenance.
ITC tax credit — CC keeps it
$303,916
30% of the $1.01M system. CC owns the assets, so CC claims the credit.
25-year net income
$1.03M+
Solar + Battery + EV across 46 homes · growing ~3% per year.
Asset value lift
+$472K
At 6% cap rate on Year 1 NOI.
Tenant savings
$31/mo
Residents pay $121/mo vs. their $152 JEA bill — lower from day one.
The money CC gets back — Year 1
30% ITC credit
$303,916
30% of the $1,013,054 system · received ~18 months post-install.
MACRS depreciation
$180,830
Accelerated depreciation · 21% corp tax · 100% bonus · Year 1.
Total returned in Year 1
$484,746
Applied to the loan, this is what cuts the real cost from ~$164 to ~$86/home.
System financed at 8.99% over 25 years on the full $1,013,054 cost. The 30% ITC and MACRS depreciation (21% corporate tax rate, 100% bonus depreciation) are returned roughly 18 months after install and applied to reduce the loan — which is what produces the ~$86/home real cost shown above. Domestic-content and low-income (LMI) bonus credits can raise the ITC further. Consult your accountant — NOI is not a tax advisory service.
What this program is
Center Creek Capital Group can generate $28,295+ in new annual NOI through a solar, battery storage, and EV charging program with zero upfront investment and zero operational risk. CC buys and owns the system — financed by NOI over 25 years — and the federal tax credits CC receives bring the real running cost down to roughly $86/home/month. Residents pay below their utility bill, and CC keeps the difference. NOI provides the complete solution: system design, installation, ongoing maintenance, energy billing, and the capital to fund the project.
How it works for residents. Once the energy system is installed, tenants enjoy lower energy bills, greater energy reliability, backup power resilience during outages, and a more sustainable living environment. Instead of paying JEA (Jacksonville Electric Authority) directly, residents pay the community a fixed monthly energy fee. Even with this structure, residents typically pay less than they would through the local utility — making it a straightforward value proposition at lease signing.
