Enhancing Your Rental Property Investment with Solar Energy

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When many people consider the benefits of installing a solar PV system, they immediately think about tax credits. However, more and more wise investors are choosing to install solar energy systems on their rental homes. Despite the fact that rental homes do not qualify for the 30% federal tax credit, the decision by these owners to invest in solar will pay dividends for decades to come.

Recently, Optimus Solar has had three clients install solar on their rental properties, showing just how far the industry has come over the past five years.  The price of solar energy system installation is becoming competitive even without the federal tax credit.  This is allowing homeowners, tenants and larger-scale rental communities to reap the benefits of solar energy.

Multiple studies have shown that a rental unit equipped with a solar energy system is more marketable, rents faster and is more appealing than a similar unit without a solar energy system.  The market is clear in tenant’s preference for solar capabilities.  It not only provides cost savings, it tells a great story to friends and family, and shows an investment in the environment and in Florida.

Property owners investing in solar energy systems for their rental properties will see positive benefits for decades to come, and we encourage all long-term thinkers to consider this value-add to their real estate assets, tenants and communities.

Do you have a rental property you think might be a good candidate for solar? Call Optimus Solar today for a free estimate! 352.535.0227

Top 5 Reasons to Go Solar in 2019

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The year may have just barely begun, but that’s no reason to put off the things that could make 2019 a stellar year. We put together our list of “Top 5 Reasons to Go Solar in 2019” because today is always the best day to plan for your future.

1.    2019 is the last year for the full 30% federal income tax credit

Starting in 2020, the tax credit will reduce to 26%.  In 2021, it is down to 22%. From there, it will continue to decrease until it is fully phased out. It is reasonable to expect that solar installation prices will not fall as quickly as the tax credit, so 2019 may be a homeowner’s best chance to optimize their financial return on solar.

2.    Utility rates continued to rise from 2018 to 2019

The US national average for electricity rose from January 2018 to late 2018. This means that in 2019, the return on a solar investment is more attractive, the payback period is shorter, and if you install this year, you can offset more future costs.

3.    The price of a solar installation in Florida fell in 2018

According to Solar Power World Online, the average price of a residential solar installation in the US fell in 2018 by almost 6%.  That can amount to meaningful savings for a household seeking to invest in solar in 2019!

4.    Having a solar PV system contributes to household financial stability 

For households that pay cash for a system, there is an immediate reduction in their monthly expenses through a reduction in energy bills.  For households that choose to finance their system, they are trading a volatile monthly payment for a fixed monthly payment over the life of the loan. Of course, once the loan is paid off, the real savings begin rolling in!

5.    Investing in Florida helps the local economy and long-term health of the State

Optimus Solar has written about the compounding power of producing electricity locally vs. importing it from out of State.  Furthermore, using Florida-based solar installers, and Florida-manufactured solar panels compounds the local positive impacts and leads to a multiplier of positive economic activity.

There you have it! This Top 5 list is pretty convincing, but if you need more info or want to chat about what a solar PV system could do for your home this year, give us a call! 352-535-0227

Net Zero Homes Coming to Mount Dora

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Picture living in a home that has no electricity bill, includes backup power during outages and real-time management of power use. Add to that a home that provides 100% of your car’s fuel for free plus no landscaping bills, no water bills and no sewer bills.  Now, picture renting that home maintenance-free with no long-term commitment. Sound idyllic?  We believe this model is the future of urban housing in the United States, and are bringing our prototype to Mount Dora!

We are strong believers in the power of local production and local consumption.  To prove how valuable this is to residents, communities and Florida, we are building the first 100% solar-powered rental units in Mount Dora, fully equipped with electric vehicle charging, home automation and available to rent as “all-in” homes, without normal hassles of monthly bill paying, deposits, grass cutting, etc.

While our primary business is residential and commercial solar installations, Optimus Solar is also a company seeking to have a broader impact on sustainability. One of these efforts includes better matching the housing market to the modern job market. The modern workforce is more fluid in their employment, moving frequently and thereby benefitting from less long-term physical obligations.  Cities and towns are more vibrant when those working and living near town are engaged in the full economic life of the city, and Optimus believes housing like this supports that reality.

We will be working with Hegstrom Homes to construct these custom units, and they will be powered by SolarTech Universal solar panels, manufactured right here in Florida.  Additionally, their battery systems will provide critical load power during storm or other outage events.  When paired with a fully electric vehicle, these homes will provide 100% of their electricity and 100% of their resident’s fuel from the sun, saving the average person more than $2,400 per year*!  This turns the old equation of importing fuel into Florida on its head, allowing us to produce what we use locally, providing a 25+ year economic multiplier to our area.

Construction is expected to take 6 months, and when fully operational, these rental homes will serve as a model for how we can better live and build as a community, bringing economic, environmental and civic value to residents, tenants, businesses and the City.

 

*Savings based on $100 per month in gas savings and $100 per month in electricity savings.