Westbrook Development Partners
“The solar looks great. We have noticed that many of our tenants are proud to work in a building that is solar powered and have included it in their monthly newsletters. Pretty exciting stuff.”
– Aaryn Manning, Westbrook Development Partners
Westbrook Development Partners selected Namaste Solar to install solar on Prism Workspaces, a Denver co-working space home to 62 individual units. Westbrook Development Partners worked with ANB Bank to fund their investment, which included a new roof and LED lighting in addition to solar, via C-PACE financing. The solar system will provide over 100,000 kWh of energy in the first year, and will receive renewable energy credits from Xcel Energy for each kWh produced. These savings, together with the federal tax credit and accelerated depreciation, resulted in an attractive ROI, with single-digit year returns and a double-digit unlevered IRR. Additionally, the project will increase the property’s value by over $350,000.