Village Real Estate/Core Development Goes Solar
Nashville home sales set a record for January with 2,411 Nashville area residential properties sold in January 2017. During this busy time we began the installation of a 33 kilowatt solar system on the roof of Village Real Estate Services/Core Development in Nashville. Founded in 1996, Village is one of the city’s top real estate sales and marketing companies, and Core develops mixed use and residential projects in Nashville’s urban core. Founder Mark Deutschmann has approximately 350 people working in the companies.
From urban core investments that emphasize walkable communities, to serving on the Board of the Urban Land Institute of Nashville, as well as recognition from the Tennessee Environmental Council and the Greater Nashville Association of Realtors for Community Service, Deutschmann has integrated his deep understanding of sustainability and community into his business models.
Naturally, he decided to invest in solar at his office building in Hillsboro Village.
“I love renewables,” Deutschmann says. “The energy is clean, and we have a lot of sun in Tennessee,” he says.
The system consists of 101 solar panels and is expected to generate about $5,700 annually (10 year average) as part of TVA’s Green Power Providers program which will buy 100% of Village’s solar generation for 20 years.
When asked what he would tell other business owners who are thinking about investing in solar, Deutschmann says, “Get it done now – the cost of solar is down enough that there is a good business case to be made.”
Deutschmann financed the project with a loan from local, non-profit lender Pathway Lending. Pathway Lending offers low interest rates for energy efficiency and solar projects in Tennessee.
He also believes the installation of solar equipment is a good thing when it comes to reselling property.
“Anything that reduces the maintenance cost of a home or business relative to other homes or businesses results in increased value versus the competition,” explains Deutschmann.
LightWave Solar and Nashville Electric Service commissioned the system on February 28. Over 25 years (the solar panel warranty term), the 33 kW solar array will offset about 700 tons of carbon dioxide, the equivalent of planting 610 acres of trees.