Qld investment properties set to go solar
Building products company Stoddart Group has announced a plan to install 15,000 solar systems on new investment properties in Queensland over the next three years.
According to the company’s general manager for energy systems, Adam Taylor, the only reason that solar isn’t already on every investment property is because there has been a technology gap.
“Rental yields are about 5%, while solar yields are 25%,” Taylor said.
“We knew that if we could solve the technology problem, investment builders would install solar on every new home as it’s more attractive for the buyer, the tenant — and is positive for the environment.”
The company’s SunYield package includes a 6.5 kW solar system installed on the new property with a smart switchboard that automatically measures and bills the tenant for solar power used. The package will generate an average of $25 per week of electricity income for the landlord, while also saving the tenant on any power they use that is supplied from the roof.
Taylor explained that SunYield enables the landlord to either sell the power to their tenant or sell it directly back to the grid if the tenant chooses not to buy it — an option which sets the system apart from others, he noted.
“In the past, tenants opting out has been a risk for landlords looking to invest in solar panels as the solar power is worthless if you don’t have a buyer for it,” Taylor explained.
Now, Stoddart Group has partnered with investment builders in Queensland to include the solution as standard on their new investment properties. Choice Homes, Fortitude Homes, Brighton Homes and Metinvest are the first builders to adopt the new technology.
“We’re always looking for ways to offer our customers a better investment, which made the decision to put SunYield on every home a simple one,” said Choice Homes Director Troy Knight.
“For our customers, it means an increased rental return and a home that’s easier to rent. For our company, it means being one of the first to offer an innovative product that is good for our customers, their tenants and the environment.”
Taylor believes it’s only a matter of time before the system becomes standard on all new investment properties, having worked closely with Energy Queensland to ensure the new technology and metering arrangement complies with all relevant rules in Queensland.
“In the next 2–3 years, we’ll see a complete shift — from rarely seeing a rental property with solar to it being difficult to find a new one without it,” he said.
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