There are a number of criteria involved. Some questions you should ask:
- Are my tenants interested in saving money?
- How much power do my tenants use per day/per year?
- What condition is my roof? Does it face the right way?
- Can my roof fit the right ‘size’ system to meet my tenants needs adequately?
Your Landlord Energy consultant will walk through all these pre-requisites with both you and your tenant, at no obligation to you or your tenant. Not all properties are suitable for solar and let’s be honest, not all tenants want their landlord interfering in their day to day operations, even if it’s going to save them money!
Your Landlord Energy consultant can present a compelling case on your behalf, provided your tenant wants to listen. A tenant may be concerned the installation of a solar system will interrupt their operations or feel solar power is not ‘strong enough’ to keep their machines running. Your expert Landlord Energy consultant will explain the process in detail to your tenant including possible down time, access points, inspections, commissioning and billing.
If your tenant doesn’t renew their lease, the next tenant will inherit a money saving solar system with their lease. If the property remains vacant for a time and the power is still connected, you will earn export dollars via the Feed In Tariff, but not as much as if the building was tenanted. The fact you have a money saver on the roof will incentivise prospective tenants to choose your building over your neighbours.
Without this switch, the discounts won’t happen and you’ll not earn income from your tenant. This is the most serious conversation that needs to occur between our consultant and your tenant. If your tenant won’t switch, then we suggest you consider holding off your solar install until you find a tenant who ‘gets it’. For a new incoming tenant we can advise on clauses you can add to your lease agreement, stating your property’s energy arrangement and the value it delivers to the incoming tenant.
This is their right, should they choose, under Consumer Law. If you have a supply agreement written into your lease, your tenant will be in breach of the lease conditions should they change retailer. Also, when the agreement commenced, your Tenant signed an Acknowledgement Agreement stating should they find a retailer who can offer less than 20c per kW for grid power and should they switch to that Retailer, Landlord Energy will begin to invoice the Tenant for the solar power consumed from the solar system at a rate that is equivalent to their new rate plus 10%. This is because Landlord Energy’s clients are the Landlords, not the Tenants and we are contracted to supply the Landlord regular and statemented income for their solar power system investment. Landlord Energy has a Retail Exemption License issued by the Australian Energy Regulator and under this license are able to assume a PPA billing model should the Tenant switch away from our Retailer. Put simply, we will maintain an income stream to our client, the Landlord, regardless of which Electricity Retailer the Tenant chooses to use.
At the end of every billing cycle, as your tenant pays their bill, our Electricity Retail Partner will forward your funds to the Landlord Energy Disbursement account and we will subsequently forward the money to your nominated account, less a small admin processing fee.
This can vary due to metering applications and paperwork amongst Distributors, Retailers, Meter Providers and Landlord Energy. You should allow at least 3 months from install before the first of your payments are received.
Short answer-yes. A little bit more complicated, but as they say, no problem only solution. Almost all circumstances are unique and our expert consultants will assess each opportunity individually.