The Joint Ownership Entity (JOE NYC)
Project Name: The Joint Ownership Entity (JOE NYC)
System size: 1.5 MW on 120 buildings across NYC
Installer: Harvest Power
Financing type: NYC Department of Housing Preservation & Development, joint financing from LISC/NYCEEC, Low Income Housing Tax Credits, and NYSERDA grants
Description: JOE NYC is a joint ownership entity of affordable housing providers developed to reduce costs for member organizations. In 2017, JOE NYC and Solar One partnered to develop solar on any viable building in this city-wide portfolio, using various creative financing methods to maximize benefit; including loans through NYC HPD, federal Low Income Housing Tax Credits, and third-party solar ownership paired with private lenders. Solar One has provided viability assessments of the portfolio, competitive procurement, financing consultation, and ongoing support for JOE’s solar initiative.