As a landlord, I am committed to improving my rental property while also being environmentally conscious. Installing solar panels and a new roof seems like an attractive option to achieve both of these goals. Currently, I am living in the ADU and am interested in taking advantage of the 30% tax credit for both the roof and solar panels. Also, take advantage of NEM (2.0) before April 13, 2023. However, I am aware that taking on this loan will increase my debt. I believe this will be offset by the rents I collect, making it a worthwhile investment.
One potential concern I have is that all solar companies require an equipment lien on the solar panels during the financing process. While they claim they can only take away the equipment and not touch the property, it is still something I need to consider.
As a young investor, I am exploring all of my options and carefully weighing the costs and benefits of each. While there are certainly some risks involved with taking on this loan, I believe that the potential benefits in terms of energy savings and environmental impact make it a worthwhile investment. Overall, I am excited about the prospect of improving my rental property and contributing to a more sustainable future.
