Is Solar a Smart Choice for Your Investment Property?

We have seen a huge shift in people searching for and adopting solar panels in the past few years. Solar panels is the most searched word in Australia. Many residential and commercial solar panel installations have already been installed. Sunburn Solar, being a leading solar panel installation company in Victoria, is witnessing a shift in residential solar panel and commercial solar panel installations. However, there are people who are still not aware of how beneficial it is for them to install solar panels. Australia is one of the few countries where one can get abundant sunlight and turn it to one’s own benefit. The peak summer season can generate more power than one can imagine, and there are reports stating the same. Most homes in Australia have installed solar panels, but few have bought properties for investment purposes only. Those few still have not installed solar panels. This guide by Sunburn Solar will help them.

Let’s find out if solar panel installation is a good option for investment properties.

Solar panel installation in Melbourne witnesses a high number of installations, and yet some people still do not recognise the value and benefits it can offer for the short term as well as the long term. People may think that for their investment property, solar panel installation is not an option to consider as they won’t live in that property. But there are higher chances that solar panel installation can increase the value of your property as well as offer a good return in a short while. Here we are listing a few reasons why solar panel installation is a good option for investment properties.

• Increased Property Value: Investors can think of solar panel installation as a factor that can instantly increase the property value of their assets. Yes, as you install solar panels in your residential investment property, you can open doors for unlimited benefits. One of those benefits covers increased property value. As everyone becomes environmentally conscious, there are higher chances that people will consider solar panel installation as an environmentally friendly move and may rent your home. As well as solar panel installation can also reduce and lower the energy bills, which is also a good thing that a tenant finds attractive. These altogether can increase the property value of your investment property.
• Higher Rent: We all know that at times it becomes difficult to find a tenant and a tenant who can pay a good sum of rent. At this time, solar panel installation can be an attractive factor for your investment property and can help you find a quality tenant for your home. Nowadays, everyone searches for ways to save money, and solar panel installation can reduce the energy bills, as well as tenants won’t rely on government electricity for power supply. That is why another benefit of solar panel installation for your investment property enables higher rent options.
• Low Energy Bills for Tenants: We all know that humans are always in search of ways to cut down their expenses without affecting their comfort. Solar panel installation is the best option that offers both of these things. Hence, it attracts quality tenants to your investment property. Tenants may wonder that it is always a good option to be power independent as well as get the feed-in tariff if they generate the extra power. However, you must clarify certain things about feed-in tariffs, who will have how much % of the tariff, etc. As well as having a written agreement of the care tips for solar panels. In the long run, these all offer smooth operations between you and the tenant.
• Property Attracts more Tenants: As we have stated above that if your property has solar panels, it attracts quality tenants. As well as there are higher chances that you get calls for multiple tenants. If you market your property in the right way, you can get multiple options to select from and higher rent prices.
• Increased Sale Price: If you have bought the investment property to sell after a few years, then you can also get the best deals because of solar panel installation. Nowadays, everyone searches for investment options that offer high returns, and solar panel installation can offer the same. It can increase the property value by offering lower and reduced energy bills. Hence, it offers one more reason to install solar panels for your investment property.
• Higher ROI: Solar panel installations always come with higher ROI, and they tend to attract more tenants to your home. As there are less amount of bills to pay, and additionally, there is no compromise with the comfort it offers, it is the best option. If we talk about higher ROI, then as time goes you get more benefits. However, one may find it expensive as they install the solar panels, but if we think about the long term, then it becomes the perfect option for you to consider.

These are the reasons you can look into as you think about solar panel installation for your investment property.

Conclusion

As we have seen the shift in solar panel installation, now is the high time for you if you have not installed them yet. No matter which property you are installing solar panels on, the benefits will always be fruitful. You can call Sunburn Solar, a leading solar panel installation company in Melbourne. Our associates analyze your energy needs and accordingly offer solar panel installation guidance. Reach out to us and let’s attract more quality tenants for your investment property.