Park Hill Co-op Installs Solar With Utility Loan
The Brooklyn building utilizes a $232,000 submetering loan to install a solar array.
Updated on Oct. 27, 2026 in Utilities
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The Park Hill co-op in Sunset Park has installed a new solar array to manage rising energy costs. The project was financed through a $232,000 loan from DaisyChain to cover installation and system upgrades.
Why it matters
The board sought this financial structure to avoid charging shareholders additional assessments following a major roof replacement. Submetering allows the building to aggregate electricity usage and offset costs through solar credits.
The solar project cost $183,000 to install, while the building's new submetering system and solar credits each generate $7,000 in annual value. The co-op serves 24 units.
The players
Park Hill co-op
This is a 24-unit residential cooperative located in the Sunset Park neighborhood of Brooklyn.
DaisyChain
This organization provides financing for building energy projects and aims to secure private investment for future larger-scale initiatives.
The details
The co-op installed a master meter to replace individual utility accounts, allowing the building to purchase electricity in bulk. Revenue from the submetering system and various government incentives will be used to pay off the project loan.
Timeline
October 2026 is the date of the announcement.
Market Landscape
This project follows a pattern set by Local Law 97 as residential buildings prioritize energy upgrades to meet municipal carbon reduction mandates. It marks a shift where small co-ops leverage submetering to remain competitive in an environment of rising utility costs.
Shareholders in the building will benefit from energy credits that help offset costs in both individual apartments and common areas. The switch to bulk utility purchasing and submetering effectively removes the need for immediate additional assessments for residents.
The takeaway
Smaller residential buildings are increasingly using creative financing to manage expensive infrastructure upgrades. Property boards looking to replicate this model must carefully balance loan debt against projected energy savings.
Further reading
Learn more about the local energy market in the Utilities section.
Source note: This article includes information reported by Habitat: Co-op/condo Real Estate.
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