With 75% of renters wanting to live in a green building, is solar right for your property? Going solar can increase property values, result in a more stable operating budget, reduce expenses, and improve a building’s attractiveness to tenants and buyers according to the N.C. Clean Energy Technology Center. By making your home energy efficient first, you can reduce your energy consumption.
Minnesota covers 60% of its annual energy use with coal and natural gas says the Minnesota Solar Connection. Minnesotans are surprised to learn that our state has annual solar resources similar to areas such as Florida and Texas. By investing in solar energy we capitalize on one of the most abundant natural resources, the sun.
The government offers incentives including tax credits, favorable utility rates and offers investors a strong socially responsible investment. While renters, condo and townhome owners do not own their own roof or a stand alone project there are Community Solar Gardens (CSG). No rooftop or land is required to own a community solar garden. CSG are photovoltaic (PV) systems which are built and maintained by Solar Developers. These solar gardens receive credit on their utility bills for the electricity created by their shared community solar garden. As part of a Community Solar Gardens you will be adding renewable energy to Minnesota. What’s more is CSG don’t have to be located where you live. They can be placed up to one county away from you.
There isn’t much of a downside to adding solar because the interest rates are low and lenders see it as a good investment that increases the value of the property while reducing its operational costs. Most apartments are individually metered and most multi-family housing owners and developers who install solar do so only to cover common areas. The buildings will use solar produced power for common areas of apartment buildings because tenants pay their own electricity bills.
Weighing the pro’s and con’s is necessary to determine if solar is right for you? Now the decision is yours to make.