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Updated 10 months ago,
Solar Panels for a Rental - Akron, OH
Hi! I'm an investor with a few properties in Akron and Canton, OH. I have a property that I'm currently living in but plan to turn into a rental once I buy a house in the next year. I'm considering adding solar panels to this house to offset the rising electricity costs in Ohio.
I plan on using the PPO strategy (renting the system) for the panels since the property is worth around $180,000 and is at the top of the market for its location in Akron. I will be living in the house for a minimum of 6 more months but I am sizing the panels for a family of 4.
The monthly panel bill will be around $130. However, I will get a credit from the electric company for the excess electricity the panels produce. Based on the sight survey, my property has a 113% electricity offset with a 9.72 kW system. Given this information, do you think adding the panels to a rental property would be a good idea?