LOS ANGELES, Aug. 18, 2015 /PRNewswire/ — Energy-Producing Retail Realty, Inc. (‘EPR2‘) announces the first commercial solar installation in the US to take advantage of innovative financing that is poised to disrupt the commercial solar industry. The company’s patent-pending business method enables the deployment of solar on commercial buildings through its proprietary Next Level Solar program. EPR2 estimates the opportunity for development in California at over $100 billion.
Historically, solar companies have been unsuccessful selling and installing projects into the immense multi-tenant, commercial building market, in part due to misaligned interests and incentives between property stakeholders. EPR2‘s novel business model solves this challenge by acquiring the legal right from the building owner to install energy producing assets on-site and then providing access to the energy produced to the building owner and tenants at a discounted rate.
Entrepreneurship guru Mario Rosati of Wilson Sonsini Goodrich & Rosati, the premier legal advisor to technology enterprises worldwide, and advisor to EPR2, explains that “EPR2‘s model is different from any I have seen before. It has the potential to disrupt the commercial solar industry and open the alternative energy buildout for commercial building owners.”
“Commercial building owners benefit from our Next Level Solar program by gaining access to discounted electricity for their buildings,” said Chris Pawlik, CEO of EPR2. “Our business model minimizes capital, technology, and operational risks for owners while increasing a building’s net operating income and value. As opposed to alternative solar options, owners are not required to put any money down or provide a guarantee and are not obligated to fixed monthly payments.”
Dale Dockins, Owner of North Bay Commercial Real Estate and EPR2 client, went on to say, “The best part of Next Level Solar is that it increases my building’s income and reduces my tenant’s electricity bills at no cost to either of us.”
In addition to benefitting building owners and tenants, Next Level Solar provides investors a triple-bottom-line benefit: financially, investors earn a stable yield linked to local utility rates; environmentally, investing in on-site, solar projects provides clean and renewable energy to buildings, efficiently; and, from a community perspective, investment in micro-infrastructure, solar projects fuels the local economy by increasing jobs as well as demand for products and services.
EPR2 intends to accelerate the deployment of solar on commercial buildings by leveraging direct relationships with owners and tenants as well as third parties, such as commercial real estate brokers, who can benefit through EPR2‘s partnership programs.
About Energy-Producing Retail Realty, Inc. (‘EPR2‘)
EPR2 is a new leader in distributed energy solutions that align the interests of commercial property owners, tenants, and lenders. With offices in Southern and Northern California, EPR2 owns and operates solar and other energy producing solutions on behalf of building owners and tenants. EPR2‘s clients receive the benefits of discounted clean energy without the obligations of ownership, allowing them to focus on their core businesses.
