CareySolar®
A turnkey solution for rooftop and carport solar installations
Power your business with CareySolar®
CareySolar®, W. P. Carey’s solar program, is a turnkey solution providing eligible tenants the opportunity to take advantage of rooftop and carport solar installations at their leased properties with no upfront investment, no commitment beyond their lease term, and minimal disruption to business. The program also provides for Battery Energy Storage Systems (“BESS”) in certain states.
FAQs
No, CareySolar is designed to provide our tenants with on-site renewable energy without any upfront costs to the tenant. All the tenant needs to do is enter into a Power Purchase Agreement (PPA) with W. P. Carey to purchase the power generated by the system.
No, the installation of on-site solar will not impact the performance of the roof or the roof warranty.
A structural assessment will be performed during the feasibility stage of the project, however most structures do not require reinforcement to support solar. In cases where structural reinforcement is required, W. P. Carey will coordinate this work and there will not be any costs to the tenant.
No, however the power that your facility consumes from the grid will be offset by the on-site solar generation. The amount of power offset by the on-site solar system will depend on the size of the system as well as the facility’s total electrical consumption.
The only impact to your existing utility account will be a reduction in consumption from the grid, which will be reflected by a cheaper bill from the current electric utility company.
Your PPA contract term will be consistent with the term of your lease with W. P. Carey, so you will have no penalties for terminating at the end of your lease term. If your lease is renewed, the PPA will also be extended through the same term.
Yes, you are committing to purchasing 100% of the power generated by the on-site solar system.
Your PPA will terminate upon expiration of your lease, and you will have no obligation to remove the system at lease expiration.
In most cases, W. P. Carey and its 3rd party vendors will manage the construction of the system turnkey. W. P. Carey also offers the CareySolar Financing Program, where the tenant manages the construction process, and the project is financed by W. P. Carey.
The system will be operated and maintained by W. P. Carey and its 3rd party vendors.
Any issues with the system will be addressed by W. P. Carey and its 3rd party vendors.
