Green + White blog title graphic "Going Solar in a Condo Association"
July 10, 2024

Going Solar in a Condo Association

More and more Americans are going solar every year. The economic and environmental benefits are hard to ignore. Let’s take a closer look at how going solar within an association differs from individual homeowners and how these solar projects can work.

Helps Reduce Greenhouse Emissions

As society becomes more environmentally friendly each year, it’s important to start thinking about ways to create eco-friendly spaces. Solar is known as one of the top-producing energy resources. As a renewable source of power, it will help reduce greenhouse gas emissions. This can help improve air quality within your association, reduce water use from energy production, and cut down electricity costs. 

Green + White Infographic "Going Solar Helps Reduce Greenhouse Emissions

Solar panels are also reliable, meaning that they will produce electricity even in cloudy weather and store excess energy for later use. It’s also considered more secure than other power sources in terms of repair and maintenance. 

2024 is the Year for Solar 

A big reason to go solar in 2024 is because solar prices are expected to fall. Rooftop solar pricing is typically measured in price per watt. The average price per watt for solar is currently at $3.42. Simultaneously, solar power might help you get your money back through the Solar Renewable Energy Credits

HOA Versus Individual Homeowners

For individual homeowners, the task of installing a solar energy system is fairly cut-and-dry. Once a homeowner chooses a company, they install and start saving almost immediately. On the other hand, within condominiums or co-ops, the process is a little more complicated. Solar projects in condominiums involve multiple stakeholders, therefore they tend to get a bit more complicated than simply installing solar on a single-family home. 

Solar Installation Process with Condo Associations

It’s important to work with a contractor and property management specialist who has experience in the process of installing solar energy systems on a condominium. HOA boards should communicate what the benefits to each unit owner will be over the life of the system.

In an association project, a solar PV system will provide electricity for common areas of the building. They’ll often connect to the building’s common electric meter and any electricity produced can be shared with individual condo unit owners. 

Solar can be a beneficial addition to your condo association if you are looking for a way to cut your electricity costs and save energy. If your homeowner’s association has questions about solar installation and how they will work, contact Thayer & Associates.

Leave a Reply

Your email address will not be published. Required fields are marked *