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Should I put solar panels on my rental property?

A solar system will add value to a rental property for tenants, as you, the landlord, will assist your tenants to have a lower electricity bill.

For some tenants, this ongoing reduction in living expenses is more valuable than new paint or other features.

The expenses for electricity are a big consideration for tenants nowadays, and how energy efficient your property is - will impact on the bills your tenant faces.

Therefore putting solar on will allow you to make your property more attractive with future tenants in a competitive rental space, but you can also write off the cost in a depreciation schedule - a win /win situation.

The upfront cost can sometimes be a barrier, but solar has now a number of finance options available. Why not contact the largest installer network Australia wide in solar, from the biggest consumer brand and one of our installation partners can discuss your options.

Please reach out to your local LG dealer to have your questions answered.

Transcript

In a lot of cities in Australia now the apartment boom has meant that rental pressure on landlords to keep clients has increased.

Now how nice it is, if I have a house and I'm able to have a solar system and I can advertise that and my potential tenant can be guaranteed that his electricity bill which is one of the big headaches we all have will be lower than the rental property down the road.

So if your landlord and you're looking at adding value to your house and making it more attractive for a tenant thinking about solar is a great idea because you can write it off.

Your tenant has a benefit. They are more likely to choose your property over others especially right now when there's a tight rental competition with all the apartments going up. So go solar if you own a rental property and keep your tenant longer.

So thank you very much for joining us here at the LG Energy website. We have frequently asked questions and all the answers.

We have beginners guides,videos from dealers, we have output calculators so you can actually see what happens in your area with the solar system how much it will generate so please go onto the website do your research if you're looking into solar LG is the way to go.

Can I get a solar panel rebate for a rental property?

Can I get a solar panel rebate for a rental property?

Yes, the solar power system rebate is given to the physical property address and not the individual.

If you are a multiple property owner, then you can avail of the solar rebate for all your properties if they fall into the criteria as laid down by the government.

You should talk to your nearest LG installer to get the updated information or visit the Clean Energy Council website to see if there is any relevant copy about the latest rebate applicable to you.

There is currently one key rebate offered for solar PV systems in Australia. They are the Small-scale Technology Certificates (STCs).

Our authorised LG solar panel dealers will inform you about the latest level of rebates available.

They can advise on how to optimise your incentives and the eligibility requirements but it is generally advisable in line with general consumer advice to double check the relevant rules yourself.


Can I claim solar panels on rental property?

Obviously any advice on solar for a rental property supplied in this article needs to be double-checked with your accountant to tailor any solution to your specific circumstances.

The simple answer is YES – you can claim tax deductions on the purchase of solar power for a rental income – as it is a capital expenditure and can be claimed over many years.

You can win financially when you put solar panels on a rental property. It can not be claimed all in the year following the purchase at once, as this is only possible for repairs such as a broken window or busted lock.

Therefore only a certain percentage of the expenditure to buy the solar panels and inverter gets taken into account each year, and over time you can claim the depreciation of solar panels, inverter, solar monitoring, and even installation costs on your rental property.

The beauty is as part of the purchase of installing solar panels on a rental property you can still get the solar rebate even if it is for an investment property. The solar rebate applies for home and for rental properties the same. So even if you got the solar rebate once for your home, you can get it again for your rental property. How good is that?


Can I claim solar panels on rental property?

Why choose LG Solar Panels?

Not all solar panels are built the same. When you purchase solar panels from LG Solar you are investing in a product backed by years of experience and manufactured with the help of stringent research and testing standards.

FAQs

Q. Is it worth to put LG solar panels on my rental property?

Australia over the past decade has seen an explosion in apartments being built, especially in the capital cities. This means right now in late 2019, there is an oversupply of rental properties on offer - putting downward pressure on rental yields.

A solar system will add value to a rental property for tenants, as you, the landlord, will assist your tenants to have a lower electricity bill. For some tenants, this ongoing reduction in living expenses is more valuable than new paint or other features.

The expenses for electricity are a big consideration for tenants nowadays, and how energy efficient your property is - will impact on the bills your tenant face.

Therefore putting solar on will allow you to make your property more attractive with future tenants in a competitive rental space, but you can also write off the cost in a depreciation schedule - a win /win situation.

The upfront cost can sometimes be a barrier, but solar has now a number of finance options available.

Why not contact the largest installer network Australia wide in solar, from the biggest consumer brand and one of our installation partners can discuss your options. Find your local LG dealer. Please reach out and have your questions answered.

Q. Why should I use an LG Authorized Solar network installer?

LG selects high quality solar companies to be LG Authorised Installers. A quality solar panel needs a quality installation to optimise it's performance and long-life which maximises financial savings for households. The solar industry includes quality solar installers but sadly also sharks, cowboys and ethically challenged operators. A large number of solar companies have closed over the last 10 years, many have intentionally 'phoenixed' (closed and re-opened under a different name) to avoid honouring installation warranties when low quality equipment and installations fail.

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Q. Why should I buy LG Solar Panels?

Buying a solar module from LG means you are purchasing a product built to last for decades. LG Electronics Australia has the capacity to provide a reliable backup and makes their locally awarded warranties count for a long time. They offer the biggest consumer brand in solar.

There are industry estimates that over half of current solar manufacturers will not be in the solar space in five years’ time. Since 2013 over 350 panel manufacturers have left the industry. A quick search on the internet shows the state of an industry facing overcapacity and some solar panel manufacturers have high debts and financial problems. LG on the other hand has a diversified income stream and a long term commitment to the solar industry.

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