A commercial property is only as successful as its tenants, so how will a solar program affect the tenant experience?
The good news is that with millions of commercial solar installations worldwide, positive tenant experiences are at an all-time high. In fact, commercial property owners are realizing that solar programs don’t just add revenue and increase property value, they are also an important tool in increasing tenant satisfaction and retention.
Here’s a look at the key benefits of a program from a tenant’s perspective:
- Lower utility cost: The most obvious benefit is decreased utility costs. By opting into a solar program, tenants will see a decrease in their monthly utility bill.
- Clean locally generated energy: A recent study by PEW Research Center found that 89% of Americans favor increased solar energy production regardless of political affiliation or demographics. Adopting renewable energy is a high priority to a growing portion of tenants and consumers. Providing renewable energy to your tenants makes your building more attractive. By offering solar, you are meeting emerging tenant needs.
- Marketability: Your tenants are able to market their business as using clean local energy without needing to invest their own financial resources. This offers a huge value add to your tenants that can help them increase their own business success.
Is it a hassle to get tenants set up?
The King Energy setup process is quick and hassle free. Once a solar program is installed on a commercial property, our tenant experience team walks each tenant through the easy online opt-in process, which generally takes less than five minutes.
Once onboard tenants receive a single monthly bill through King Energy’s OneBill™. Our OneBill™ statement combines our solar energy bill and the utility’s energy bill. Tenants receive one bill and make one payment. We provide paper or paperless billing, manual and autopay options. All tenants have access to both their utility bill and solar bills in one easy-to-use interface. In short, the OneBill™ experience is better than the utility.
What if tenants want to cancel their program?
In the event that a tenant is leaving the property, there are no penalties for canceling. Programs are set up to be coterminous with their lease, meaning that they are signed up as long as they are a tenant. If a tenant is staying on the property but wants to cancel their program, they are free to cancel with 60 days notice.
Final thoughts
From 2014 to 2019, the annual tally of commercial solar installations jumped over 200% and that trend has continued. Solar is mainstream and here to stay.
A solar program with King Energy is a no-cost, no-hassle way for tenants to save money on their energy bill and benefit from clean, locally-generated energy. Property owners benefit from higher tenant satisfaction and creating a property that is more attractive to future tenants.