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As a residential landlord, you're constantly looking for ways to improve your investment property. You want happy tenants who stay long-term, but you also want to maximise the return on your investment. In today’s environmentally conscious market, tapping into renewable energy to power your properties can be a strategic move.
Solar panel installation in particular offers a range of benefits that directly translate to a more valuable and attractive property. Here's why incorporating solar panels and battery systems can be a very lucrative decision for landlords in Australia:
There's a compelling financial argument for installing solar panels on your rental property. Studies consistently show that houses with solar panels command a higher selling price—in fact, estimates suggest an increase of around $25,000 in property value. This translates to a significantly higher return on investment when you eventually decide to sell.
But the benefits extend beyond a potential future sale. Solar panels also make your rental property more competitive in today's market. As environmental consciousness continues to grow, potential tenants are increasingly looking for eco-friendly features, and a property with solar power immediately stands out from the competition.
Solar power can significantly decrease electricity costs, particularly in Australia where sunshine is abundant. For landlords, the initial cost of installing a solar system can be offset by the ability to command higher rent, the increase in property value, and potential tax incentives or rebates available for renewable energy investments.
Given that electricity prices have increased by an average of 72% over the past decade, many Australians are turning to solar panels as a solution. By offering lower electricity bills, your rental property becomes a much more attractive proposition for potential tenants; they’ll be happier and more likely to remain long-term, reducing your turnover and vacancy periods.
Solar power systems are renowned for their durability and low maintenance requirements. High-quality solar panels have a lifespan of around 25 to 30 years, with minimal maintenance needed beyond occasional cleaning and routine checks.
This reliability means you and your tenants can enjoy the benefits of your solar system without worrying about frequent or costly repairs, providing a hassle-free solution to enhance their property's value and functionality.
Installing solar panelling aligns with growing environmental concerns and the global shift towards sustainable living. Properties that offer renewable energy solutions appeal to environmentally conscious tenants, who are likely to value and prioritise rental options that help them reduce their carbon footprint.
Investing in solar technology also serves as a form of future-proofing for property investments. Globally, regulations favouring green building practices and energy efficiency are becoming increasingly common. Properties already equipped with solar installations will likely face fewer hurdles as regulations become stricter and more widespread.
The Australian governments at both state and federal levels offer various incentives for solar power installation, including rebates, feed-in tariffs, and tax benefits. If you’re wondering whether the STC rebate is available for landlords, the answer is yes!
These incentives can reduce the upfront cost of installing solar systems and accelerate the return on investment for landlords. Staying informed about these opportunities can make solar installation even more financially attractive.
Solar panel installation is appealing for landlords on a number of levels, but it’s understandable that many are hesitant to give it the green light. That’s because there are quite a few practicalities to consider. Will installing solar panels damage your property? Who should you choose to install it? Will everything be up to code for your insurance?
At Think Renewable, we’re well-versed in providing solar panel installation services for landlords across Australia, including Sydney, Melbourne, Brisbane, and Perth. To help you decide whether solar panelling is right for your investment property, we’ve tapped into our experience and expertise to discuss some important practical considerations.
The concern about potential damage from installations is common among landlords. However, modern solar installations are designed to leverage existing structures without requiring new penetrations in the roof. This method not only simplifies the installation process but also protects the integrity of the building.
Choosing a company that truly understands the logistics of installing a solar system is essential. At Think, our process has been refined to minimise the impact on the property and its occupants. Most work is done on the roof, ensuring that there’s no disruption to daily activities within the property.
With the setup of a non-intrusive work area and the use of height access equipment, the installation process is not only safe but also efficient, typically completed within 2-3 weeks.
Choosing high-quality solar components is another important consideration when looking to install solar on your investment property. That’s because reliable products mean fewer worries about maintenance or unexpected repairs.
Think Renewable uses top-tier equipment to ensure that, once installed, your solar system will require minimal upkeep and will likely outlast the duration of any tenant's lease. This long-term reliability is essential for reducing the potential for disruptions and additional costs.
Ensuring your installer is accredited and trustworthy needs to be a priority. With the increase in demand for solar power has come an increase in cowboys who aren’t actually qualified for the job, leaving you with sub-par workmanship and service.
Plus, it’s important to note that if the components, designer, and installer of your chosen solar power system aren’t SAA-accredited (formally CEC), you won't be eligible to receive the solar rebate government subsidy.
At Think Renewable, we’ve got a team of highly trained and experienced SAA-accredited solar electricians on hand to ensure that every installation is executed proficiently. We also engage third-party specialists for electrical engineering and grid inspections to maintain compliance and ensure high standards throughout the installation process.
Investing in solar panels and battery systems is a strategic decision for any residential landlord in Australia. By offering lower electricity bills, attracting and retaining happy tenants, and increasing your property value, solar power empowers you to maximise your return on investment while making a positive impact on the environment.
If you’re ready to start your journey towards a greener future and reap the rewards of installing solar panels on your rental property, get in touch with us today!
Send us your details and a recent electricity bill by filling out the form below and we will make sure to get one of our energy experts to give you a call.
New South Wales
Sydney
415/410 Elizabeth St,
Surry Hills, NSW 2010
EC384848C
Southern Highlands
Unit 3/32 Priestly St,
Mittagong, NSW 2575
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