All Topics / Help Needed! / Buying an investment property with solar
Hi im in the middle of buying a house (NSW). There is a 1.5kw solar system on the roof currently gross metered at 60c pkw
The real estate agent has told me i will recieve a cheque every 3 months at that rate.
I spoke to an electrician today who is doing an inspection of the property tomorrow to make sure everything is ok .
He has told me when i sign off on the house the price pkw will either drop to 20c or be net metered
and any money from the panels goes to the electricity account holder which will be whoever is renting the property
Does anyone know how it works im going to solicitors on tuesday hopefully they will know.Couldn’t you request the electricity supplier re-direct that bonus to the property owner (yourself) ?
Hope so. Sounds like a brand new can of worms.
Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
I too will watch this with interest; a ‘grey’ area if I’ve ever seen one.
This is a very good post and intriguing question.
The contract to pay for the installation of this different type of system and hence trigger the rebate to that person might be the key.The question is : whose right to the rebate is superior – the property / equipment owner or the electricity consumer ??
Another landlord vs tenant claim has been born.
I guess the equipment you bought generates the extra elec hence the rebate, not someone’s occupation or electricity consumption.Suggestions. Carefully read the contract between you and the electricity supplier to see who it says has the entitlement to the rebate and why –
” the property or equipment owner ” being the person who contracted and paid for the installation and equipment, or
” occupant, consumer etc” being the person whose name will be on the electricity account and who will be living there, consuming electricity, and presumably paying the bill.If the consumer / occupant / tenant can successfully lay claim to the rebate, and tenancy advocates will most certainly try,
then we have a new scenario for landlords, and good reason to increase rent.If the rebate entitlement belongs to the property owner / original buyer of the system, does it transfer to a new property owner ?
Hopefully the entitlement to the rebate can be separated from the bill with a tenanted property and paid to the property owner.
Just my thoughts.Cheers
thecrestthecrest | Tony Neale - Statewide Motel Brokers
http://www.statewidemotelbrokers.com.au
Email Me | Phone Meselling motels in NSW
Thanks for the replies i was hoping others on here may have already gone down this road i should know the facts tuesday night
so ill keep you postedSorry for the late reply
I get nothing from the panels as the owner.
Who ever rents the property is able to choose there electricity provider.
I believe you can only be net metered now it is classed as new installation with change of ownership.
Anyone want to buy some solar panels
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