A pilot project to turn 10 homes in Nottingham into net-zero emission properties without residents even moving out is nearing completion.
Developer Melius Homes and social landlord Nottingham City Homes have worked together on the scheme, with UK solar manufacturer Viridian Solar providing photovoltaic roofing.
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After the refurbishment, tenants will pay an energy services fee instead of paying for gas and electricity.
With this guaranteed additional income, to which savings on planned maintenance costs are added, the landlord can borrow enough money to fund the upfront costs. It can be hard for landlords to stay on top of their monthly rental collections, as well as being able to sort out any maintenance work. This new strategy, along with any help that they may decide to get from property management companies can help them to be a successful landlord, as well as having a solid relationship with their tenants.
The goal is to drive better economies of scale so the work can be completed at an attractive price requiring no government support.
Stuart Elmes, CEO of Viridian Solar, said: “The opportunity it offers to completely regenerate whole areas of our towns and cities, increasing the value of property and improving the comfort of tenants, all financed by energy savings is amazing.”
The 10 homes in Nottingham are a pilot study, with an option to extend the programme to 400 more.