Resort Energy Ventures was retained by Host Hotels & Resorts to develop a solar project at the Hyatt Regency Maui. We supported the entire project development process including feasibility studies, due diligence, permitting, construction, and commissioning.
During the feasibility phase, we completed the following:
- Preliminary Resource Assessment with Rooftop Design;
- Calculated Federal Incentives;
- Assesses Hawaii State Energy Policies and Incentives;
- Projected Capital Cost;
- Calculated Internal Rate of Return (IRR) and Net Present Value (NPV) of the solar project over 25 years.
At the conclusion of the study, Host Hotels retained REV to provide the final engineering design, permit the site, obtain an Interconnect Agreement with the local utility, Maui Electric Company, develop an RFP, select a vendor, consider financing options, and manage the development of a 598-kW photovoltaic system at the resort. We also put a monitoring system in place to report actual production. The system was activated in January 2016 and is the largest rooftop solar system built to date on the Island of Maui.
In the next phase, Host has asked REV to assess adding more solar capacity and battery storage to the existing array and is also developing hotel properties for Host in Washington, D.C. and California.
Our Additional Areas of Expertise Include:
Battery Storage with Solar—We can determine if combining battery storage with solar or another renewable solution would yield an even greater cost benefit than just a solar alone.
Microgrid—We can model renewable and storage technologies within a microgrid format to secure energy and exchange energy between buildings and other properties.
Long Term Financing Strategies—We help analyze various financial structures (sale-leaseback, partnership flip, inverted lease, etc.) and recommend the optimum deal structure, monetize tax credits and sell Renewable Energy Credits (RECs), and secure capital or PACE financing options.
Resort Energy Ventures was founded to assist the hospitality industry and other organizations located in high energy cost regions meet their energy needs with responsible, sustainable, and economically viable solutions. We provide corporate renewable energy deployment strategies, portfolio analysis, and individual project development services for renewable energy, battery, and microgrid systems. Our approach is to maximize return on investment while meeting sustainability objectives. In resort locations, particularly islands, we have proven that green approaches to energy supply, including renewable energy and battery storage, can radically reduce costs while meeting socially desired goals.
Contact us at firstname.lastname@example.org, or (720) 722-1250.