Quick Answer
Yes, it is possible to install a hybrid system in renters' properties by using a third-party financing model, where the system owner benefits from the renewable energy credits and the renter pays a lower utility bill.
System Design Considerations
When designing a hybrid system for renters, it’s essential to consider the building’s energy usage patterns and the available space for the system. A typical residential hybrid system can range from 2 to 5 kilowatts (kW), with a price tag of $15,000 to $25,000. To minimize upfront costs, consider a smaller system size, such as 2 kW, which can still provide significant energy savings.
Installation and Ownership Options
To install a hybrid system in a renter’s property, explore third-party financing models where the system owner benefits from the renewable energy credits (RECs). This can be achieved through power purchase agreements (PPAs) or solar leases. In a PPA, the system owner sells the RECs to the renter, who benefits from lower utility bills. Alternatively, a solar lease allows the renter to pay a fixed rate for the energy generated by the system.
Technical Requirements and Permitting
To install a hybrid system in a renter’s property, ensure that the building’s electrical infrastructure can support the new system. This may require upgrading the electrical panel, wiring, or other components. Additionally, obtain necessary permits and follow local building codes and regulations. A hybrid system typically requires a 240-volt electrical panel and a disconnect switch, which can add $1,000 to $2,000 to the upfront costs.
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