AMCAL Housing, a California-based affordable-housing developer, has entered an agreement with Washington, D.C.-based Skyline Innovations for the financing and development of solar hot water systems across 11 of its multifamily properties in Los Angeles and San Diego.
According to AMCAL, Skyline Innovations' solar financing program enables multifamily affordable housing to go solar and receive guaranteed savings without financial risk. Through these solar projects, AMCAL says it is able to secure a 10-year, 30% discount to its utility rate for solar hot water used by each building.
Built by Skyline Innovations at no up-front cost to AMCAL, the 11 solar projects total 389 collectors and will provide hot water to more than 2,100 residents. AMCAL expects the solar hot water systems to offset the use of approximately 45,000 therms of energy use for water heating annually, the equivalent of 1.34 GWh each year.
In addition to financing and project development, Skyline will provide maintenance and monitoring of each system for 10 years.
