Image source: Canva.com
Going solar offers numerous compelling reasons. By adopting solar energy, you can significantly slash your electricity bills, boost property value, and bolster your local economy, all while lessening your environmental footprint. And these advantages aren’t limited to single-family homeowners or condo dwellers – owners of multi-family buildings can also reap the rewards of solar energy.
Maximize Solar Benefits for Your Rental Properties
Embracing solar power is a savvy move for your finances and a valuable asset for your tenants. Whether you’re an onsite or offsite landlord, there’s a solar solution tailored to your needs.
For Onsite Landlords
- Decide whether to install solar exclusively for your unit or provide solar electricity for rental units.
- If tenants pay their own electric bills, solar can help them save, justifying potential rent increases.
- If you cover tenants’ electric bills, solar reduces operating costs and offers long-term returns on investment.
- Solar boosts property appeal and attracts environmentally conscious tenants.
For Offsite Landlords
- Similar options apply, with solar powering all or some rental units.
- Solar attracts tenants who value environmental benefits, potentially justifying higher rents.
- Join the solar revolution as a landlord and reap the financial and environmental rewards.
Find the Best Financing Options for Solar
Discover the variety of financing choices available to facilitate your solar journey. Whether you opt to purchase or lease your solar PV system, going solar can yield significant financial benefits with little to no upfront costs.
Buying a solar energy system
Investing in a solar energy system offers long-term financial gains and flexibility. While it requires an initial investment or access to capital, purchasing grants access to state and federal tax incentives, potentially including SRECs for added income. Moreover, solar ownership can enhance property value.
Solar loans present accessible financing options, ensuring minimal upfront expenses while still reaping ownership benefits. Act now to capitalize on expiring incentives and maximize returns.
Leasing a solar energy system
Leasing provides a low-risk avenue to slash electricity costs without upfront expenses or loan obligations. While the financial benefits may be lower than ownership, leases offer energy guarantees and maintenance services for peace of mind. However, leased systems typically don’t impact property value assessments.
Community solar power presents an alternative for those unable to pursue individual options, fostering energy independence and sustainability within communities.
Additional resources
For comprehensive guidance tailored to multi-family properties and condominiums, refer to resources like the Massachusetts Department of Energy Resources’ Solar Guide for Condominium Owners and Associations. Though aimed at Massachusetts residents, this guide offers invaluable insights applicable to landlords and building owners nationwide, empowering solar champions throughout their solar journey.
