Putting solar panels on a multi?

[Tyler L.]

I've been going back and forth on whether to put solar on my triplex or not.

If I did, I'd be buying the panels, financing them at $200/mo for 25 years. The company I'm working with could still submeter everything so I could bill the tenants for electric, probably somewhere around $50/unit. Additionally, included in this is about $15k worth of electrical (mostly knob and tube removal) that I will be doing anyway.

I'm getting a site survey out soon but the building seems to be a pretty good candidate for solar and would likely result in me being able to sell electricity back in addition to charging the tenants.

What's TBD for me is whether or not it will add any additional value to the building-if it doesn't, it kind of seems more or less like I'd just be breaking even, but if it does it could be worth it.

Does anyone have any additional insight? What other questions should I be asking? I'm in Massachusetts if that makes a difference.

[Adam Lacey]

Hi @Tyler L.. I think it would actually lower the value if a prospective buyer would have to assume the monthly payment. I've had a realtor friend mention this before related to single family homes. Having these solar panel contracts makes it harder to sell homes.