Solar Panels on Rental Property: Is It Really Worth It?


 

Do you own a rental property?

The biggest question for rental property is whether to install solar panels on rental property or not. Even though the price of solar panels has gone down over the years, it is still a large upfront expense. However, rental properties with solar panels help attract tenants better. The value of a rental property with solar panels also increases year after year.

Benefits of Putting Solar Panels on Rental Properties

Solar panels are becoming increasingly popular among property owners. Landlords benefit immensely from solar panels installed on rental properties. Here is how having solar panels on a rental property will benefit you:

Improve the Property Value

Having solar panels installed by the best solar panel company in Sydney boosts property value. Tenants are willing to pay higher rents every month in return for electricity savings due to solar panels. The higher rents received due to the solar panels pay back the cost of purchase and installation of the solar PV system.

Reduce the Energy Costs

With solar panels, you can generate your own electricity, resulting in lower power bills every month. Also, excess power generated can be sent back to the grid, further reducing the cost of electricity.

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