SBCS TROLLEY TERRACE
TYPE SOLAR FOR MULTIFAMILY
SIZE 42.88 KW
LOCATION CHULA VISTA, CA
PROGRAM SOMAH
YEAR 2020
FUNDING BRIDGE LOAN & GRANT
The Project
San Diego-based nonprofit SBCS transforms communities to support the well-being and prosperity of children, youth, and families. SBCS supports families through affordable housing and social services like financial literacy and family wellness. Their Trolley Terrace multifamily housing location offers affordable housing for families along with additional supports so that they learn to build wealth and prepare for home ownership.
Like SBCS's Trolley Trestle location, Trolley Terrace was another BQuest bridge loan SOMAH (Solar on Multifamily Affordable Housing) project drawing down SOMAH funds from the State of California. Upfront brdige funding was provided during the design, permitting, and construction phases at no cost to SBCS until SOMAH funds were awarded in the form of a rebate.
Bridge funding eliminates the barrier of upfront costs for nonprofit multifamily housing operators looking to go solar. Tenants are expected to save $45 per month in electricity payments, or approximately $540 per year. SBCS will also save money by having offices and community meeting spaces powered by solar.
What They Are Saying
"BQuest's generous financing got the project started. We didn’t have to use any of our own capital during the installation process and while waiting for the SOMAH rebate. Without the bridge loan, the project would not have gotten done."
-Mauricio Torre, VP Program Operations, SBCS
The Impact
1,152
METRIC TONS CO2 MITIGATED
$331,700
MONEY SAVED
Carbon Equivalencies
248
Number of gasoline-powered cars off the road for 1 year
1,274,583
Avoided emissions from burning 1,274,583 pounds of coal
1,363
Carbon sequestered by 1,363 acres of forest in 1 year