Turning Rays into Dollars Solar Conversion at California Property to Help Shape Portfolio Strategy
By Caitlin Jones
1 min read
Tax Credit Advisor, January 2011: In Citrus Heights, Calif., a city near Sacramento, affordable housing developer USA Properties Fund, Inc. has completed the conversion of a low-income housing tax credit (LIHTC) property to renewable solar power, in a step expected to help the company shape a future solar strategy for its entire portfolio.
The solar photovoltaic (PV) system, featuring rooftop solar panels, was installed at Vintage Oaks, a 241-unit seniors LIHTC community developed and managed by USA Properties Fund, based in nearby Roseville.
The company estimates that the property will consume 86% less electricity from the local utility grid than before because of the power produced by the half-megawatt solar PV system, which was installed by Beutler Corporation.
