Rabina Properties

Rabina Properties is a real estate investment, development, and management firm based in New York. Family-owned and operated for three generations and more than sixty years, Rabina Properties owns more than seven million square feet of apartment houses, office buildings, retail properties, and industrial sites.

Challenge

As a veteran real estate company, Rabina Properties knows how to maximize the value of each of their properties, while creating attractive leasing options benefits for their clients.

Solution

Adding solar to the roof of their Auburn property allowed them to greatly reduce the operating costs for the building, and allowed them to pass some of those savings along to their tenants.

Results

70% reduction of electricity costs

Rabina Properties is projected to see a 70% annual reduction of its electricity bill, and is able to take advantage of state and federal tax and financial incentives, including SRECs (Solar Renewable Energy Certificates), which are financial incentives based on the amount of solar energy the system generates. Electrical utility providers in Massachusetts purchase SRECs to help them meet their state-mandated goals of a percentage of power coming from renewable energy sources.