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If you are wondering whether or not solar power is beneficial to rental properties, this article is for you. Here, we highlight the benefits of using solar power on your rental property.

There are numerous advantages to adding solar panels to any home, whether you live in it or rent it out to tenants. Not only is it great for reducing your property’s carbon footprint, but solar energy also ensures that your rental property is supplied with a steady supply of clean and abundant energy.

Whatever your motivations for switching to solar are, you should know that installing solar energy is an investment that will pay off for years to come. Here’s why:

Solar Panels Increase Your Property Value

Having solar panels on your rental property raises its value. This makes its installation a sound financial decision on your part as a property owner.
The whole idea of owning a rental property is maximizing earnings from the fixed value of your original investment. This is why you should not ignore the usefulness of solar energy in boosting the value of your rental property. The financial profit that you will get if you ever decide to sell your property is sure to be more significant if your property has solar power installed.

Depending on the location of the property, as well as other factors, homes that have solar power can sell for a price 4 percent higher than homes without solar, even if they have comparable value. Research shows that in the same way that property buyers are willing to spend extra thousands for a new kitchen on their property, they can pay an additional 12,000 dollars for homes with even an average-sized solar installation.

Using Solar is Cost-Efficient

There are many reasons to go solar, but the extra savings are a major motivating factor.
Utility companies providing electricity are starting to incur higher running costs, and they are transferred to the homeowner. These transferred costs in the form of higher utility bills and the unstable increases in them are unpredictable and uncomfortable for homeowners, especially those with a fixed income and a budget. If you fall under this category, you know how important it is to know what to expect and what you will have to pay monthly.
Going solar is one of the ways you gain control as your costs are fixed. It is projected that having solar power will save you $19,000 in fees over a three-decade period. Having solar panels installed in your home is more cost-efficient as it reduces your monthly utility bills.

Solar Power Provides A Safety Net

With the recent natural disasters worldwide causing power outages, solar power has never been more necessary. You do not want your guests having a wrong time at your rental property due to unforeseen circumstances. And with power outages doubling in the United States over the past two decades, it only makes sense that you prepare ahead for such events.
Adding solar panels to your rental property can keep it powered during a power outage. Your potential renters will be drawn to this as they consider energy efficiency an essential requirement and eco-friendliness a necessary factor in their choice of rentals.

We can clearly see that using solar power for your rental property is advantageous both for your tenants and for your investment.

Magitek Energy Solutions Inc. should be your top choice for all your solar installation and power needs. We are the only UL-certified PV installers in Illinois, and we provide a wide range of solar panel installations. Contact us here for a free consult.