Solar power provides long-term energy cost savings, but the initial upfront investment can be risky for companies. To solve this problem, Irvine Company founded Sunwave Solutions LLC in 2019, bringing renewable energy projects to Irvine Company’s California customers at no cost and no risk.
Customers meeting the program’s requirements are offered free installation of solar panels, contributing to their sustainability goals and reducing energy costs by approximately 10%. Currently, the program helps our customers save more than $100,000 annually in energy costs.
Irvine Company is one of the first commercial real estate companies in the United States to form an entity that enables customers to benefit from onsite solar energy production without upfront capital investment or long-term power purchase agreements. As a forever owner of office properties, we can invest in rooftop solar with the confidence that the installations will serve multiple generations of customers.
As of early 2021, Irvine Company has completed 30 solar installations, some including Tesla Energy storage, across Orange County, Santa Clara and San Diego for customers including AMETEK, Georg Fischer, Latham & Watkins, and LPA.