Solar has been saving money for thousands of families across Australia for over a decade. These savings have been generally reserved for owner-occupiers, with little benefit to the millions of people who rent, rather than own.
With our Landlord/Tenant Solar Program it makes it possible for every household in the Northern Territory to access and benefit from the cost savings achievable through solar power.
The landlord holds the electricity account in their name and installs a Landlord Solar Package onto their investment property. The Tenancy Agreement is amended to include a rental increase, which includes a certain amount of kWh per quarter at a discounted rate of 20%.
If the tenant exceeds the included electricity during the quarter, the tenant pays the excess power charges to the landlord at the discounted rate.
If the tenant does not use the entire included amount of electricity, the landlord refunds the unused amount back to the tenant.
The tenant receives a 20% discount on all electricity charges.
A tenant is currently paying $300 per week in rent, with an average electricity bill of $700 per quarter.
Total electricity charges per year = $2,800
Total electricity charges if receiving a 20% discount = $2,240
Savings Per Year = $560
To receive the discounted electricity, the cost of rent would increase by $43 per week. ($2240 divided by 52 weeks). The tenant would then enjoy an included amount of power equal to a $700 electricity bill. This Saves them $560 per year!
It is a true Win-Win situation for both tenant and landlord. The increased rent makes it possible for the landlord to pay for the solar system, which in turn, makes it possible for the tenant to pay less for electricity!