Solar powering Port Arthur apartment complex

Bringing solar power to the city that hosts the world’s largest oil refinery may sound a bit out of place, but for one Southeast Texas businessman it means clean, green cash and a new business model for the area.

The Greater Port Arthur Area Chamber of Commerce gathered at Palm Harbor Apartments on April 24 for a celebratory ribbon cutting, following the completion of the complex’s solar project. Kit Mixon, owner of Maximus REI, alongside investors and Pineapple Asset Management, took over the multi-family complex last fall, with hopes of filling the all-bills-paid units as the Port Arthur LNG Phase 1 project by Sempra takes off a few miles away.

“People who live in all-billspaid apartments don’t always think about turning up the AC or off the lights, but our solar project more than offsets that expense,” said Mixon.

Master electrician Mark Bernard, who serves as electrical inspector with the city of Port Arthur, said that, in more than 35 years of business in the area, this is the first multifamily solar project he has come across.

“This is one of the biggest solar projects in Port Arthur, for sure,” said Bernard.

Being the first project of its kind in Port Arthur, as well as for Mixon, the team set out to find just the right company to install solar panels on three buildings with south-facing roofs. Initially, the quote came in at about $1.5 million, the second at $750,000, and each time a new bid was obtained, the price increased.

“We went with a company called Solar Cowboys for a couple hundred thousand,” said Mixon.

The solar project will reduce the utility burden by approximately $30,000 annually, increasing the net operating income (NOI) and adding value to the bottom line, Mixon anticipates.

Renewable energy incentives from the Inflation Reduction Act were increased and extended last year, and will provide substantial investment tax credits for investors.

Maximus REI and Pineapple Asset Management reported that they will not see a return on the investment soon, since the nature of their business model is to procure and improve multi-family units and resell them within three to five years.

Upon procurement, Mixon and his team initiated a massive clean-up and facelift at the complex, which he said was somewhat of an eyesore to the community. In addition to the improvements, an agreement was obtained with Spectrum to add bulk cable and internet to every unit within the complex, providing additional resources for its residents.

“We are happy to be a part of the Port Arthur community and happy to provide a place people are proud to call home,” said Mixon. — Barbara Davis