Murray Street Apartments

Opportunity

Eric Shao, owner of 112 Murray St in Providence, Rhode Island, was looking for an energy solution for his business. After investing in solar panels on his primary residence eight years ago, he saw the savings and took advantage of another opportunity to have more positive cash flow with his business. The owner explained how the program helps small businesses avoid straining their cash on one project.

“This financing allowed me to put nothing down with low rates and get this project completed quickly so there’s no reason not to take advantage of this opportunity.”

Property Summary

The apartment building includes 9 units with mixed options. The one or two bed apartments are all rented by local residents that work in the area, so the owner his business a vital part of the surrounding community. The building, which previously was a monastery, is over 9,000 square feet and has a flat roof which made it simpler to employ the 23 kW system.

Contractor

Rhode Island Solar Solutions assisted Eric Shao in maximizing production with the system while also installing the panels to allow a decrease in utility bill expenses. The contractor focuses on educating the owner to choose a smart investment resulting in the most energy savings possible.

“This financing allowed me to put nothing down with low rates and get this project completed quickly so there’s no reason not to take advantage of this opportunity.”

Eric Shao, Owner of Murray Street Apartments

23 kW solar array

Year One Savings ($)

Lifetime Savings ($)

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