Bright Power and Ivy Energy Have Teamed Up to Help Multifamily Property Owners in California Increase Their Net Operating Income
Bright Power, Inc. and Ivy Energy launched a California-based partnership today to provide property owners with software that effectively solves the split incentive difficulties frequently associated with solar energy and centralized battery storage deployments. All energy customers, whether they own or rent their house, will have access to clean energy as a result of the agreement; tenants will be billed directly for their clean energy footprint.
Owners and tenants will have a clear picture of how they consume power and how their activities can preserve energy, save money, and contribute to the 21st-century energy system through simpler bill administration.
Bright Power, a leading provider of energy and water management services and a trusted advisor to real estate owners, investors, and operators, brings seventeen years of renewable energy, energy efficiency, project management, and energy analysis knowledge to the table. Bright Power has enhanced the performance of more than 14,500 buildings and 235,800 housing units in California as a pioneer in the identification of breakthrough technologies.
Bright Power is positioned to leverage its knowledge as the owner’s representative to supervise the solar installer, optimize the design, and assure correct installation for optimal electricity generation.
Building owners can use Bright Power’s guidance to install big solar PV arrays that generate enough electricity to offset an entire property’s electricity use while using Ivy Energy’s billing technology to manage operations and tenant allocations. Ivy simplifies solar billing for numerous units, resulting in higher net operating income for owners and lower electric utility bills for tenants.
Every year, the Ivy platform consumes “virtually” 5.5 MWh of clean energy that would not have been deployed otherwise. In California, there are approximately 7,000,000 rental homes, and Ivy wants to assist them all to get access to renewable energy.
Bright Power and Ivy Energy will work together to provide real estate owners with innovative ways to boost their net operating revenue while minimizing risk and complexity. This collaboration will save tenants money while simultaneously helping the environment.