SunPower (NASDAQ:SPWR), a leading residential solar technology and energy services provider, plans to install over 1 megawatt of solar at Poppy Grove in Elk Grove, CA, making it one of the largest affordable housing communities in the nation to run on renewable energy. The 2,649-panel system is designed to offset up to 80% of the residents’ consumption helping them save up to $1,000 annually on their utility bills.
“The cost to power a home can pose a significant financial burden on low-income families, especially with increasing electricity costs. Solar can effectively provide affordable energy making it a highly valued amenity for affordable housing communities,” said Matt Brost, vice president of New Homes Sales for SunPower. “We remain steadfast in our commitment to provide all Americans access to rooftop solar, no matter their income level or if they rent or own their homes.”
The real estate development partners overseeing the 387-apartment community, UrbanCore Development and E. Smith & Company, worked with SunPower to design the array that can pass along energy savings to Poppy Grove’s tenants. The 16-acre property built by Brown Construction is projected to save the community approximately $2.7 million over fifteen years with solar. These savings are not only expected to be shared with residents but also be used to maintain the on-site amenities, further lowering rental costs for residents.
“Our development team is extremely proud to build one of the largest solar programs in the nation at the Poppy Grove affordable apartment home community. The direct financial benefits from this renewable energy program will be shared with our residents and will significantly improve the quality of life for all our families,” said Reese A Jarrett, President of E. Smith & Company.
Poppy Grove helps meet the city’s needs for low-income housing progressing SunPower’s commitment to make solar more accessible and equitable. SunPower also helped Poppy Grove developers utilize available incentives within the Inflation Reduction Act to help make the energy investment more affordable. The additional savings are expected to help offset the cost of solar and reduce the payback period to less than 6 years.
