More and more people are conscious about the amount of energy they use, and where that energy comes from. Unfortunately for millions of people who rent apartments, the current benefits of solar are almost exclusively going to homeowners. It’s difficult for an apartment dweller to get the environmental benefits of solar panels because they can’t purchase the panels for their rented living space.
Since solar has become such a popular way for people to reduce their carbon footprint through renewable energy resources, landlords that install solar panels on an apartment complex can realize the financial benefits of generating energy from the sun, but also gain a competitive edge in attracting renters for whom solar energy is a desirable perk.
An apartment complex has a lot of energy needs, and even if your tenants pay for the energy they use within their own apartment, you are still paying as a landlord for power supplied to common areas like hallways, lobby, and any site amenities you have like a gym or entertainment areas. Solar energy panels can generate enough energy to supply power to these areas in addition to your tenants’ living space, reducing your operating costs. If you include electricity in your tenants’ rent, you can make money by having low or nonexistent energy costs.
As more people are looking for ways to reduce their own consumption and feel good about doing what they can for the environment, many landlords will find that having a solar array on an apartment building can attract renters and will increase the value of your property over time as more and more people look for environmentally friendly options, even when renting.
With a typical solar array in Utah, you can often generate more power through the solar panels than your apartment building and your tenants will use. That’s especially true in the summer months when sunshine is abundant and the hours in the day are long. You may be able to sell some of the excess energy you generate back to the local power company, providing you with another income stream.
Finally, solar panels for apartment buildings can be a great way to do your part as a landlord to help the entire state and community reduce its fossil fuel consumption. As the number of people in Utah continues to grow, air quality will likely continue to decline without significant action on the part of commercial and residential properties in the state.
Talk to Intermountain Wind & Solar today to learn how you can get solar installed on any existing or future apartment building.
Landlords in Utah and Idaho can cut common-area electric costs by up to 35–40%. Intermountain Wind & Solar data shows an average building saves $4,200 annually on lighting, HVAC and shared laundry. These savings start day one and improve ROI over 15-year leases.
Intermountain Wind & Solar offers five financing plans including tax-equity lease, PPA, bank loan, commercial lease and bulk-purchase discount. Federal ITC covers 26% of system cost and Idaho adds up to a 10% state credit—resulting in net costs as low as $1.50 per watt.
Our in-house crews complete rooftop arrays on 30-unit apartments in 4–6 weeks. We handle all zoning and electrical permits in Utah, Wyoming and Oregon within 10–14 business days. Over 1,200 installations since 2008 average 150 panels per project.
Tenant surveys in the Intermountain West show 65% of renters prefer green buildings with lower utility bills. Solar arrays signal modern, sustainable living—boosting occupancy rates by 7% on average and commanding rent premiums of $20–$40 per unit.
Intermountain Wind & Solar manages all local permits and inspections in Idaho, Oregon, Wyoming and Utah. Our 15+ years of regional experience secures approvals 30% faster than average. That saves you over 20 labor hours and avoids subcontractor delays.
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