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Illustrative underwriting example — not a customer case study

BTR community — distributed rooftop solar

Ocala, Florida · Build-to-rent community, 148 homes plus amenity meter · 1.1 MW-DC distributed rooftop solar, no storage

A rental community where the addressable load is the amenity and common-area meter plus, where the metering structure allows, the individually metered homes. No demand component means no storage case — and we say that at stage 01 rather than designing a battery nobody needs.

Aerial view of a build-to-rent community in Florida with solar panels on the home roofs

Representative photography of this site type. Not a photograph of a customer property.

Modeled annual benefit
$148,000
Energy offset only; no demand or program component modeled
Storage
Not recommended
Residential-class tariffs here carry no demand determinant
Solar offset
71% of addressable usage
1,595,000 kWh/yr modeled production
The tariff
  • Residential-class service on the home meters with no demand determinant and no meaningful time differential.
  • A small general-service amenity meter carries the only demand-style charge on the property, and it is too small to justify storage.
  • Net metering rules decide how much of the production actually earns retail value.
The site
  • 148 pitched composition roofs, all under four years old, with south and west exposures usable on roughly 60% of them.
  • Amenity building and pool equipment on a separate general-service meter.
  • Distributed installation, so the cost driver is truck rolls and per-roof engineering, not a single large array.
The design
  • Per-home arrays of 6–9 kW-DC sized to each home's own consumption, not to roof capacity.
  • Amenity array of 85 kW-DC on the clubhouse and carport structures.
  • No storage. A battery on this tariff would add capital cost against a charge that does not exist.
Modeled economics

Every line separated, with its own assumption.

Modeled annual economics for this example
LineModeled valueBasis
Energy offset from solar$148,000 / yrModeled at a $0.13/kWh blended rate with 1,450 kWh/kW-yr production
Demand-charge reduction$0No demand determinant on the addressable meters
Program performance paymentsNot modeledNo published storage performance program applies to this site

Modeled figures only. Not an operating result, not customer data, not a quote. Federal, state and utility incentive availability depends on project facts and applicable requirements; NOI does not provide tax advice.

What can delay or disqualify
  • Who holds the meter — owner or resident — determines who can capture the benefit; this is a lease-structure question before it is an energy question.
  • Net-metering rule changes move the value of exported production.
  • Roof warranty coordination across many homes affects schedule more than equipment lead times.
How this site runs through the five stages
  1. 01 Tariff read

    Amenity and sample home bills; confirmation that no demand component exists.

  2. 02 Site validation

    Roof orientation and shading survey across the community; metering and lease review.

  3. 03 Design and underwriting

    Per-home sizing, portfolio-level operating case, agreement covering resident-facing terms.

  4. 04 Permitting

    County permitting per address and utility interconnection per meter.

  5. 05 Operations

    Monitoring per array, maintenance routing, reporting at portfolio level.

See the full process →

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