The Real Estate Institute of Queensland (REIQ) has welcomed the Queensland government’s new Supercharged Solar for Renters program, describing it as a “win-win” for both tenants and property owners.
The scheme offers rebates of up to $3,500 to lessors who install rooftop solar photovoltaic (PV) systems on rental properties, with the goal of easing rising power bills for renters and lifting the energy efficiency of Queensland’s rental stock.
REIQ CEO Antonia Mercorella (pictured) said the initiative would help renters who have traditionally missed out on the benefits of solar.
“We welcome the Supercharged Solar for Renters program, which will provide much-needed cost-of-living relief to renters while also incentivising improvements to the energy efficiency of Queensland’s rental stock,” Mercorella said.
“This program provides an essential opportunity for renters who otherwise wouldn’t have access to solar power and the associated benefits of reduced electricity bills.
Recent analysis from iSelect’s Solar Payback Report shows that in high‑sun, high‑price markets such as Perth and Adelaide, strong solar exposure and elevated power prices can cut solar payback times to under five years – underlining how quickly well‑designed solar incentives can improve household affordability.
“While the upfront cost of installing solar panels can be significant, this new rebate program provides an opportunity for lessors to lower that costly capital investment, increase the value of their properties, and contribute to a more sustainable future," Mercorella said.
“It’s important to remember that property owners have certain legislative obligations when it comes to the standard of the rental properties, but as solar energy is an ‘add on’ feature, this incentive may sway the minds of investors who appreciate the long-term benefits they may gain from a solar upgrade.”
Mercorella said growing environmental awareness was changing what tenants and buyers look for.
She said with growing environmental consciousness, more buyers and renters are prioritising greener homes – providing a competitive edge in a market where sustainability is becoming an increasingly important factor.
“We’re called the sunshine state for a reason and with Queensland’s abundance of sunshine, solar power is a natural fit for property owners looking to invest in more sustainable, energy-efficient homes,” the REIQ chief said.
“Energy-efficient homes are more attractive to environmentally conscious tenants and buyers, and solar panels represent a long-term investment that can increase a property’s value.
“Investing in solar energy not only provides immediate savings for renters but can also add lasting value to the property, as another marketable attribute making it more appealing on the rental market and potentially attracting tenants faster.
“We encourage property managers to share the details and benefits of this program with their clients so eligible lessors can apply to take advantage of this rebate opportunity.”
Around 6,500 renting households are expected to save about $700 a year on electricity bills, while eligible landlords can claim one rebate per property (up to three properties), provided homes are in Queensland, rented for $1,000 or less a week and individually metered.
For more information, read the full iSelect report.
Get the hottest and freshest mortgage news delivered right into your inbox. Subscribe now to our FREE daily newsletter.
