Solar Panels an additional source of cash flow for your properties

  • Naushy

    Status: Forum Member

    Posts: 66
    Joined: 2 Jul 2009
    From: Mississauga, ON

     Hi Everyone,

    I was speaking to a friend of mine from high school who works with a company called Certified Solar, which installs solar panels.  Since I'm in real estate, he wanted to know what people are saying, if any, about solar panels (eg. how they can pay for it and benefit from it).  
    He explained how a lot of people aren't aware of the benefits of it not only in terms of energy savings but in terms of the return someone can make on investing into one of these on their properties or even rental properties.  I immediately thought of fellow REIN members when he was explaining it to me....   

    Highlights:
    - the cash flow from investing in this can be $500-1000/mth (or 14% per year).  Rough numbers of course.
    - you get paid by your local hydro company
    - its a 20-year contract with Ontario Power authority so it transferable if you want to sell or if you are looking at buying a property that has it (or it can be a lease, however you negotiate it)
    - warranty on panel is 25 yrs
    - a roof that faces SE or SW will maximize sun exposure therefore maximize profit (eg. summer get paid more)
    - My financing idea: the cost to install can be rolled into your mortgage if you refi
    - My Real Estate idea: this can be an added feature to selling of a house ie. make cash flow on this improvement

    He has sent me some online brochures so if anyone has any questions on say if there house is a good candidate or costs involved etc, please call my friend Josh Collett at  905-466-8252.  His website is www.certifiedsolar.ca.

    Thanks,
    Naushy Saeed
    Cell: (416) 566-5341
    nsaeed@trebnet.com 
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