For Leo there were two major reasons for installing solar on his 12-apartment building. “We felt it would be a good thing to reduce the overall energy consumption of the building, and we hoped that installing solar panels, which provided the tenants with free electricity, would help keep the units competitive in the rental market,” he said.
Choosing the right solar technology
After some online research, Leo opted to install solar sharing technology, instead of multiple systems powering individual apartments. “For the building, we used technology which allows the solar energy to be shared between the units, as our building does not have individual unit owners,” he said.
The solar system Leo installed has a platform which shows the amount of solar that is produced and used, so he can see how much renters are benefitting. “There are many days where during the sunny part of the day, the solar energy produced covers all of the energy demands for the building.” End-to-end the whole process took around 8 months to complete Leo explained, adding that his renters are very satisfied with how the solar panels operate.
What to know about solar sharing technology
Solar sharing technology allows electricity generated through solar to be equitably and safely distributed to participating apartments.
Engaging renters
Keeping tenants in the building for longer is another benefit to installing solar. “Losing a tenant is quite costly, there are considerable fees which go along with re-letting a unit and every week a unit is empty is forgone rent,” Leo explained.
In terms of the installation, Leo said that there were no issues with coordination or the residents. “I think only for a single day we had to cordon off part of the car park so that materials could be stored there.”
Leo encourages other rental providers to also consider installing solar. “Overall (it was) a relatively quick and easy process.” He added that government incentives were also helpful in completing the installation.
Next, Leo is planning other initiatives to reduce the energy usage such as swapping out the lights for LEDs. He is also considering in investing in solar battery storage so excess energy from the panels can be used at other times.
Solar Victoria’s incentives
If you own rental property and would like to explore options for installing solar you can start your research by seeing if you are eligible for our solar rebates for rental properties, which offers eligible rental providers a rebate of up to $1,400, and interest-free loans for the same amount, to install solar panels (PV) on their property.
If you own an apartment, you should also learn more about our Solar for Apartments Program which provides eligible owners corporations with funding of up to $2,800 per apartment.
Image credit: Allume Energy
Solar for Apartments
The Solar for Apartments program will reduce the upfront cost of installing solar PV on apartment buildings, by providing successful applicants grants of up to $2,800 per apartment.
Solar rebates for rental properties
We’re making sure renters can also benefit from solar. A rebate of up to $1,400 is available for rental properties, subject to a lease agreement with renters.
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