Valley Oaks Senior Apartments
TYPE MULTIFAMILY SOLAR
SIZE 58.3 KW
LOCATION AUBURN, CA
PROGRAM SOMAH SOLAR
YEAR 2022
FUNDING BRIDGE LOAN
The Project
Valley Oaks Senior Apartments is a 60-unit affordable housing senior living apartment located in Auburn, California.
With the support of financing from the BQuest Foundation and project management and installation by GRID Alternatives, Valley Oaks Senior Apartments was able to install a 58.3 kW solar system that serves all of the households at Valley Oaks Senior Apartments, as well as train one solar installer. BQuest provided upfront bridge loan funding for the project, drawing down SOMAH (Solar on Multifamily Affordable Housing) rebate funds from the State of California. Bridge funding eliminates the barrier of upfront costs for nonprofit multifamily housing operators looking to go solar.
BQuest has continued to partner with GRID Alternatives on a number of solar installations benefiting communities of concern. GRID Alternatives is a national leader in helping economic and environmental justice communities nationwide get clean, affordable renewable energy, transportation, and jobs. GRID envisions a rapid, equitable transition to a world powered by renewable energy that benefits everyone.
Partnering with both single-family and multifamily affordable housing providers across the United States, GRID develops solar projects that enhance the environmental sustainability of housing, reduce electricity costs for residents, and provide solar workforce training opportunities for those in the community.
The Impact
1,256
METRIC TONS C02 MITIGATED
$317,667
LIFETIME SAVINGS
Carbon Equivalencies
292
Gasoline-powered cars off the road for 1 year
1,353,361
Avoided emissions from burning 1,353,361 pounds of coal
1,434
Carbon sequestered by 1,434 acres of forest in 1 year