A Solar Investment: Multi-Family Homes

Perhaps you’ve added solar panels to your home, but have you thought about adding panels to an investment property or business? In recent years, the general public has become increasingly aware of their impact on the environment. This increasing awareness has brought forth the popularity of electric vehicles, compost piles, and homesteading. Just because one does not own a home, does not mean that they would not appreciate the use of solar energy in their apartment building or office. Take for example, the fact that a renter’s electric bill may be significantly less if the building utilizes solar or wind energy. Mounting solar panels to an apartment building or multi-family residence can attract tenants who not only care about the environment, but also are interested in saving money. While solar panels themselves are not guaranteed to add value to the property, they are certainly a good selling point when advertising the property to potential tenants. Remember that just like a normal home installation, adding an on-grid solar panel system to an investment property requires hiring an electrician or engineer for proper installation. While the initial investment of adding the panels may seem daunting, they will surely pay themselves off over time. Be sure to take advantage of all of the available tax credits available for solar energy systems. You can find details about these credits by visiting the U.S. Department of Energy website.