Hospitality – Reduced Energy Consumption By 77%
25YR TERM FIXED RATE C-PACE FINANCING
First Year Energy Savings
ENERGY SAVINGS OVER THE LIFE OF THE PROJECT
The 173 room Kings Inn Anaheim needed to replace an end-of-life roof while improving operating efficiencies via the installation of a solar array. C-PACE financing from HASRE facilitated a two phase project. Phase one: the installation of a cool roof that was ‘solar ready,’ reduced internal temperatures by 20 degrees and reduced maintenance costs. Phase two: the installation of a 265kW solar array.
The HASRE Solution
Hannon Armstrong Sustainable Real Estate provided long-term (25-year) PACE financing, covering 100% of the improvements, which allowed the property owner to go green, modernize and improve property cash flow without tying up funds from capital expense reserves.
Preservation of equity and funds. Increased energy efficiency and a “greener,” more modern hotel with reduced maintenance expenses.