CubeSmart: Solar For Self Storage

A CubeSmart managed property in Brandon, FL, strategically partnered with ESA in a bid to increase its property value through the reduction of operating costs, and in turn, boosting net operating income. This climate-controlled facility saw the installation of a robust 116.20 kW solar panel system, specifically designed to significantly reduce the storage facility's electric bill and generate substantial savings over time.

The comprehensive solar system comprised 280 high-efficiency panels, all strategically placed to maximize energy production and offset a significant portion of the facility's energy consumption. The system is expected to generate 173,518 kWh.

The project required a total capital investment of $264,827. However, this cost was greatly offset by the estimated Federal Tax Credit of $68,855 and the depreciation savings of $85,248. Consequently, the net project investment was brought down to $154,103.