If you rent an apartment, that severely limits your options to reduce your energy bills by switching to solar energy. Most landlords and building owners won’t consider installing solar panels for a single tenant.
Some tenants may be able to get approval to use a portable solar panel or join a community solar project, but those options aren’t always available.
However, more and more apartment complexes are choosing to go solar as solar panels become more affordable and readily available in the United States. Landlords and multi-family residential property owners have begun to realize the financial benefits of switching to solar panels for apartments.
Have questions about how switching to solar energy could benefit you as a landlord, property owner, or business owner? Click below to get started!
Solar Energy Benefits For Landlords
The upfront cost of switching your apartment complex or multi-family rental property can be substantial, but you’ll start reaping the benefits of solar energy almost immediately once your system is installed.
Lower Energy Bills
Apartment complexes and other multi-family rental properties have high energy needs and even if your tenants are directly billed for their own energy usage in their unit, you’re still paying for power used in common areas.
Apartment complexes that provide amenities like gyms, common meeting spaces, pools, and entertainment areas have increased power needs that won’t be covered by tenants.
By installing a solar energy system, you can generate enough energy to power all of those common areas, in addition to your tenants’ individual apartments.
This can dramatically reduce your monthly operating costs, potentially allowing you to generate more profit.
Differentiate Yourself In The Market
This is particularly valuable if there aren’t many apartment complexes using solar energy in your area. More people are trying to reduce their energy consumption every year. They care about the environment and also want to try to save money on utility costs.
If your apartment complex uses solar energy, you may attract renters you wouldn’t have been able to reach before. This can ensure you stand out in the rental market in your city.
Save Money With Tax Credits And More
As a landlord who chooses to invest in solar panels, you can save money through the federal tax credit. There could also be additional tax incentives available in your state.
Advanced Solar Is Here To Help
Apartment buildings and multi-family rental properties can be ideal for solar panels, as they tend to have plenty of roof surfaces available to house the panels.
Solar panels for apartments can be instrumental in attracting new tenants, and can even provide an additional income stream if you can sell unused solar energy back to your local utility provider.
Our expert solar installers are available to answer your questions and help you feel confident choosing the right solar energy system for your property. Click below to get started today!