14 May SOLAR POWER OPPORTUNITY FOR RENTALS
Landlords wanting to increase the value of their rental property and receive higher rental returns are being encouraged to consider applying for The Queensland Government’s Solar for rentals trial.
As part of the trial, around 1,000 rebates of up to $3,500 are available for eligible landlords to install a solar system with solar monitoring technology. Rental properties must be in the local government areas of Gladstone, Bundaberg and Townsville. This unique opportunity enables landlords and tenants to share the value of installing a solar PV system.
Daniel Shea owner of Daniel Shea Solar and Electrical told Gladstone News that his business is the only Gladstone based Clean Energy Council Approved Solar Retailer. As an approved retailer he has made a commitment to good business practices and improving industry standards in the solar industry. Mr Shea said his company has already installed the first solar system under the Solar Rentals Grant.
There are several eligibility criteria that a property must meet to qualify to apply to be part of the trial. Properties must be detached or semi-detached with their own roof space and electricity meter, it must also be currently tenanted with a rent (before solar) of no more than $350 per week. Both landlord and tenants need to agree to be part of the trial and sign a new lease of at least 12 months with a fair rent increase. In return, tenants who are selected to take part in the trial will be able to either use the solar power or sell it back to the grid to reduce their electricity costs. The trial is one of the initiatives of the Affordable Energy Plan. The Queensland Rural and Industry Development Authority (QRIDA) is administering the rebate applications and payments.
Only one rebate is available per rental property. If you have more than one rental property you can apply for a rebate at each property provided all the eligibility criteria are met.
To find out more about the trial and to use the solar for rentals calculator to see how you could benefit, visit www.qld.gov.au/solar-for-rentals or talk to your property manager or landlord today.