Situated in California’s Central Valley with some of the nation’s worst air quality, the rate of asthma in children in the San Joaquin is 20% higher than the state average, GRID Alternatives secured funding through the cap and trade-funded Solar on Multifamily Affordable Housing (SOMAH) program to install a 204.8 kW-DC solar system.

The completed solar system will be providing tenants with approximately $40,427 of energy savings annually, equating to $1,029,377 over the system’s lifetime. In addition, property administration will save $2,442 annually on energy in common areas around the community. In the near future, tenants are expected to have zero electric costs. The savings that tenants receive from solar can be put directly into their pockets and in turn be used for other expenses, including rent. The cost savings from common areas allow property owners to invest more into their communities like Valle de Las Brisas and continue to provide more affordable housing in California.

Project Structure

• Energy Resilience Fund secured a $517,000 program-related investment from the Schmidt Family Foundation and Grove Foundations to cover the upfront cost of construction.

• The program-related investment was secured by the California Solar on Multifamily Affordable Housing (SOMAH) rebate (assigning the rebate directly to the lender). No other security was issued for the loan.