Staffed by a team of dedicated and skilled professionals who possess a deep understanding of the market, Castellan Real Estate Partners has invested in $750 million worth of debt and equity transactions since 2009. Castellan Real Estate Partners understands the importance of investing in its own properties, as reflected in its decision to partner with Harlem Community Development Corporation to install solar panels on the roof of a portfolio property on West 141st Street.
Installing solar panels on a residential building has a number of benefits, perhaps the most obvious of which is the savings on electricity bills. Depending on the energy needs of the building and the number of panels installed, electricity bills could be altogether eliminated, or at least significantly lowered. Outside of the energy savings, solar panels can significantly increase the value of a property. Lowered or nonexistent energy bills are a major selling point when the property goes on the market.
Individuals should also think about the environmental benefits of installing solar panels. Electricity use generates a great deal of carbon dioxide, and solar energy is much cleaner. In addition, the installation of solar panels reduces reliance on foreign and/or nonrenewable sources of energy.