We provide services to large and small organizations including...
Portfolio Renewable Energy Analysis and Deployment
AvalonBay is a top apartment owner in the US with over 300 properties from California to New York. Rev was retained by AvalonBay to develop a corporate renewable energy strategy and then to evaluate the feasibility of developing solar projects at each of the corporate owned properties. We used proprietary software to evaluate the potential across the entire portfolio and determined that it is financially feasible for AvalonBay to develop over 150 solar projects on existing properties with a portfolio wide IRR of over 19% leading to an increase in asset value of over $50 million. In 2017 REV started developing solar projects for AvalonBay in Washington DC, California, and New Jersey.
Host Hotels & Resorts
Hyatt Regency Maui and Fairmont Kea Lani, Maui
Rev completed an initial feasibility study for solar power at both resorts which led into complete design drawings, permitting, and interconnect negotiations with the local utility. Rev’s analysis showed that the rooftop photovoltaic installations will serve over 9-15% of each resort’s power needs with an IRR exceeding 20%. The Hyatt Regency system was installed and operational in December 2015, and the Fairmont Kea Lani was operational in June 2016. Rev is now working with Host to double the system size and add battery storage at both locations.
Sunstone Hotel Investors
Marriott Wailea Beach Resort, Maui
Rev is working with Sunstone to develop the second largest resort rooftop solar system on the island of Maui. The design includes a battery storage system which increases the project return on investment while providing much needed demand response capabilities for the local utility. Initial feasibility was completed in 2018 and construction will begin in mid-2019.
Andaz Resort, Maui
Rev was commissioned by Hyatt Corporation to provide an initial feasibility study and conceptual design for solar power for the Andaz Resort on Maui. This new concept resort has a very sleek design which required integration of the solar panels into the architecture of the resort. The final design also included adding shaded carports to the existing parking garage and surface parking. Financial projections show an IRR over 20% on a $2 million capital expenditure. Construction completed in 2018.
Rev was retained by UDR, Inc., a national apartment REIT, to analyze their property portfolio and assemble a first round of sites where solar projects are financially and technically feasible. Rev identified seven communities in California and Washington, DC with high returns and will develop those projects with UDR in 2019.
City of Boulder, CO
Renewable Energy Strategy
Rev is working with the City of Boulder, Colorado to establish a renewable energy development strategy and implementation plan to provide 100% renewable power to the cannabis grow industry. Work includes stakeholder outreach, business planning, addressing regulatory hurdles, developing financing options, and technical analysis.
Real Estate Projects
Rev is developing a select service hotel at the Central Park train station in the Stapleton neighborhood of Denver. This 4700 acre site is the largest urban redevelopment project in the nation.