The rental market in Green Bay is unique and the city is growing. More and more skilled professionals are making their way to the area for a wide variety of reasons; the Green Bay Packers alone bring in hundreds of thousands of people from around the world every year
Green Bay, despite its location in the Northeastern Hemisphere, has a surprising potential for generating a significant amount of solar power. Germany, a country even farther North than Green Bay, has emerged as a world leader of solar production seeking a long-term minimum target of 35% by 2020. Revealing that a northern location is not a limiting factor when it comes to harnessing substantial solar power.
The City of Green Bay offers a unique rental market coming #3 in a 2018 rental report listing 100 US cities, combine this with the ability to receive a far amount of UV Rays, investing in solar is a long term investment which matches our long-term rental portfolio. As solar technology improves and solar panel costs continue to go down, this fruitful long-term investment is looking more fruitful than ever. Additional incentives consist of local, federal tax, and utility incentives.
Solar systems have been installed at two of our properties, and the results have been promising. Local utility incentives helped offset the cost of each solar array installation; both qualified for the max incentive offered for each installation year which at the time was $2000. Working with a professional solar installation contractor Eland Electric helped reduce headaches and made the process relatively painless. These systems are up and running, and on track to provide significant returns over their 25+ year lifespans.
The 1st solar installation was installed at the Lenwood Property, going online July 2016, a fixed Solar Array 5.175 KW with 15 SolarWorld 285w panels supported by 9 Schedule 40 (ASTM 53B) 2″ pipes, a unique design of this solar array was to incorporate it into the structure of the shed allowing a large workbench inside.
The 2nd solar installation was installed at the Reed Property, going online in July of 2018. This is a complete turn-key 7 KW DC rated system totaling 20 SolarWorld 350w panels installed on a fixed roof mount system. After-tax incentives and utility incentives, the payback of this system will be reached within 12 years. That means that by 2030 this system will have paid for itself.