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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
$147,200
Sum of the supported lines below only. Program performance value is excluded because it settles on measured dispatch.
Demand charges today
None
No demand determinant on the addressable meters.
Solar offset
71% of addressable usage
1,595,000 kWh/yr modeled production against 2,250,000 kWh/yr of addressable load.
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

Ocala, Florida: modeled annual economics, line by line

Modeled annual economics for this example
LineModeled valueBasis
Energy offset from solar$147,200 / yr71% of modeled production consumed on site at a $0.13/kWh blended rate; exported production is not valued here.
Demand-charge reduction$0No demand determinant on the addressable meters.
Program performance paymentsNot modeledNot modeled as a dollar figure. Performance programs of this type settle on measured dispatch during declared events, so a nameplate figure would overstate the receipt. Eligibility, enrolment and settlement basis are confirmed per site before any case is issued.

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, which is why only self-consumed output is valued above.
  • 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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