Tenants and landlords to benefit financially from new solar technology

Tenants and landlords to benefit financially from new solar technology
Tenants and landlords to benefit financially from new solar technology

Landlords and tenants are set to both benefit financially with Sunyield, Stoddart Group's new solar technology.

A new batch of homes in Queensland, built by the likes of Choice Homes and Brighton Homes, will see the solar panels save as much as $275 a year on electricity.

Stoddart Group's general manager for energy systems Adam Taylor says solar energy usage was once a difficult conversation with landlord and tenant before the new technology.

“It was too difficult to manage," he said.

“With SunYield, if the tenant chooses to use the solar panels, all solar and grid power is measured automatically via a smart switchboard and the tenant receives a single monthly power bill for all electricity consumed from both the solar and the grid.

“Renters have long missed out on the benefits of solar power simply because it was too hard or complicated for landlords to justify the cost.

“SunYield changes this by ensuring that solar on a new rental property is a good deal for the landlord, as well as the tenant.  

The process is completely automated, with the landlord then receiving a payment for all solar generated, whether it was used by the tenant or sent to the grid.

“With this technology, the landlord owns the solar system and can either sell the power to their tenant at a discount to the market rate or export it to the grid if the tenant chooses not to buy it.”

The SunYield package includes a 6.5 KW solar power system, combined with a Stoddart Smart Board that replaces the standard meter box on a new home.  

SunYield is also battery ready, allowing landlords to add batteries as they become cheaper and increase the proportion of solar-generated power sold to the tenant.

Choices Homes director Troy Knight said the innovative technology is good for his customers, their tenants and the environment.

“We're always looking for ways to offer our customers a better investment, which made the decision to put SunYield on every home a simple one," he said.

“For our customers, it means an increased rental return and a home that's easier to rent.

"For our company, it means being one of the first to offer an innovative product that is good for our customers, their tenants and the environment.  

The Australian-first technology was designed locally and is being launched in Queensland with leading investment builders Choice Homes, Creation Homes, Brighton Homes and MetInvest, with each including SunYield as standard on their new homes. 

Stoddart Group will soon extend the solution to other builders and plans to install 15,000 SunYield systems over the next 3 years and Taylor believes the technology will quickly become standard on all new investment properties. 

“In the next 2 -3 years, we’ll see a complete shift - from rarely seeing a rental property with solar to it being difficult to find a new one without it," he said.

Taylor said they did not have plans to release the product to the established homes market due to the way the technology works.

Stoddart Group partnered with leading energy provider, Powershop and technology company, Reposit to develop the solution and make it a seamless experience for the landlord, tenant and homebuilder.

Powershop boss Ed McManus said giving renters the ability to use solar power is positive for their power bills and the energy market.

“Powershop is always pursuing ideas that can help Australians get in control of their power bills. This program not only helps customers save money, but it also lowers their environmental footprint and puts more renewable energy into the grid. 

Reposit Power CEO Dean Spaccavento said the solar and battery industry is booming in Australia, but there have been technological barriers preventing investors and renters from benefiting.

"We can now do things with electricity that only a few years ago were ideas on paper," Mr Spaccavento said. 

"With smart technology like SunYield coupled with Reposit, we all now have a say in how our electricity is generated and what we pay for it.

"It's now possible for renters and landlords alike to benefit from rooftop solar. Landlords earn a profit and renters benefit from lower energy bills.

"SunYield is an investment now that will continue to improve and deliver results well into the future."

 

Joel Robinson

Joel Robinson

Joel Robinson is a property journalist based in Sydney. Joel has been writing about the residential real estate market for the last five years, specializing in market trends and the economics and finance behind buying and selling real estate.

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Solar Power Choice Homes

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