If you have a residential property for rent, and you want to install a solar energy system, you might think of it as a waste, since it will not be you who will benefit from the system. However, that might not be the case. Solar energy for rental property might not be as bad a concept as you think, and while, you certainly wont be able to utilize it for your own good, it will still come with a lot of advantages, a good majority of them financial, which will lead you to get a solar energy system, not only for the sake of the property itself, but also for the tenants. Let’s take a dive into whether or not solar for rental property is a feasible proposition.

Solar Energy for rental property: What it entails?

For your rental property, installing a solar energy system will bring about many benefits, which we will discuss below. But before that, we need to address the elephant in the room: the cost. Usually, solar energy systems are installed at self-owned properties. The idea is to reap the benefits of the solar energy system while ensuring the upkeep of the system by yourself; this way, solar energy is the most feasible given its high initial cost. But, spending the same on a solar energy system on a rental property? That might not make sense, but by going through the benefits of solar energy for rental property, your opinion just might sway.

The benefits of Solar Energy for rental properties

Solar energy systems are beneficial no matter where they might be installed. With that being said, a solar energy system goes beyond just providing reliable access to clean energy; it also has a lot of passive effects that help make it feasible arrangement for rental properties. Let’s look at the benefits of solar energy for rental properties.

i. Increases value of property

Solar energy systems objectively increase the value of the property they are installed on, and that is because of the market perception that solar energy systems reduce utility bills by a lot, which makes the property feasible for potential buyers. The effect is such that a 10 per cent increase in perceived value has been noticed in research for homes equipped a modest solar energy system compared to houses without any such addition. As such, even for a rental property, when the time comes that it might have to be sold, you will definitely get a lot more in monetary return since the value of the property will be appraised much higher than it would have without a solar energy system.

ii. Attract better tenants for your rental property

A tenant who saves money on their utility bills is a happy tenant. And landlords tend to go along just fine when the tenant doesn’t complain. In this manner, with solar energy system for the rental property, you will attract better and more tenants, since they will be attracted to the potential savings and the offsetting of bills with the solar energy system hooked up to the property. With net metering enabled, the system will further benefit the user, allowing them to rack up credit with the local distribution company, thereby making a property with solar a very feasible idea. So, with solar for rental property, you will have more tenants looking to move into a solar-equipped property.

iii. Gives reliable energy against outages, blackouts

Solar energy systems are best used in places where blackouts and power outages are common, since they provide ample energy for a household to run provided sufficient battery storage is in place. This means that aside from posing as lucrative for potential tenants, the soalr-equipped rental property will provide them a good alternative for reliable energy in an outage-ridden time. Which will entice potential renters into choosing your property since it has a solar energy system that can help mitigate the effects of untimely power outages.

Beacon Energy: For the best in Solar Energy Equipment

For the best in solar energy equipment, check out Beacon Energy, who has partnered with some of the most reputed solar energy equipment manufacturers in the world like CanadianSolar and SOFAR Solar to bring the best equipment to UAE. The solar skyline of middle east is ripe for a revolution, and Beacon Energy is doing just that, ensuring access for all to clean, green and reliable energy.