At YSG Solar, we always advise potential solar consumers to purchase their system outright. However, that doesn’t mean that purchasing the solar system outright is the only way to go. There are plenty of other ways into the solar community and one such option involves leasing the space on your roof for solar panel installation. In this scenario, you lease your roof as a space to house the solar panel array and the energy generated is then consumed by one or more “off-takers”. In most cases, these “off-takers” are interested parties who are incapable of housing solar installations on their own property for numerous reasons. The energy generated by the solar array on your leased roof space is then consumed by the “off-takers” and you make a nice profit for your accommodation.
#1. Be Certain
This might seem quite obvious, but it’s important nonetheless. Make sure that both parties - yourself included! - are completely onboard with the solar project. A solar panel installation is a long-term commitment so you’ll want to be sure that this is something everybody really wants in the long run. You’ll want mutual assurances of performance, dependability and property rights on both sides. Be absolutely certain that you have the full legal right to lease your roof as well.
#2. Check Your Roof
Again, maybe a tad obvious, but be sure that your roof is in tip-top condition, capable of housing a solar panel array for the foreseeable future! In almost all cases, the solar provider will carry out and assessment of the roof and ascertain whether or not it’s capable of supporting the array. If there are any structural issues, or the roof is particularly old, then the renter may wish to carry out some work ahead of the solar project. Of course, if the roof is beyond repair, this could be a project deal-breaker too.
#3. Examine The Area
It’s not just the roof that needs to be inspected either, the entire surrounding area and location will need to be taken into account to ensure that conditions are right for optimal solar panel performance. Both parties will want to ensure that the solar system generates lots of energy moving forward. This means looking at the area with things like shading, weather, environmental restrictions and even flooding potential in mind.
#4. Establish Trust
Most importantly, if you’re entering into a long-term solar commitment with the renting party, you want to be certain of their ability and legitimacy. Aside from the financial gains, the main benefit of leasing your roof for solar is that it’s easy and convenient. You shouldn’t be expected to carry out any maintenance or monitor the equipment - this should be on the renter, who is generally an established solar provider more than capable of doing so. Solar panel leasing should be simple and unobtrusive, so be sure that this is the case with your specific renter. When all is said and done, the benefits of solar are fantastic, but your first concern is your own property.
By Shane Croghan