West Midlands property business praised for energy saving scheme

November 9, 2011

CIA Let Property Blog

Stewardson Properties are among the first private landlords to have solar panels fitted onto their properties

A property business in the West Midlands are to be praised in Parliament as a ‘fantastic’ example of innovation.

The property business, which is in Cradley Heath near Birmingham, is run by Phillip and Mark Stewardson. Stewardson Properties are among the first private landlords to have solar panels fitted onto the properties they rent out, which then makes fuel costs cheaper for the tenants who work there.

A converted pub in Birmingham, which has been turned into the companies offices and four flats, have recently had panels fitted. A 16 panel installation was rolled out and had saved an estimated £400-a-year in costs.

Phillip and Mark are now planning to extend the scheme to as many of their properties as possible. Their money-saving scheme has been commended by James Morris, West Midlands MP.

Mr Morris, who represents Halesowen and Rowley Regis, said: “It is fantastic that a local company is leading the way in making the benefits of solar power available to their tenants, having seen how much the company saved from having panels on their own offices.

“Support from Government means that homeowners and landlords get paid for the electricity that their solar panels generate, whilst tenants benefit from cheaper electricity bills.

“I will be raising this in Parliament as a fantastic example of local landlords taking innovative action to help their tenants and the environment.”

Phillip Stewardson, 47, has said that this is a “win-win” plan after Government backing, but not all of their properties will get the solar panels installed. He said: “As a businessman it makes perfect sense. Not only do the tenants get the benefit of cheaper electricity, but we get paid by the Government for installing the panels.

“It’s win-win. It’s a green initiative and we’re reducing the carbon footprint of all out properties, plus it adds between one and two percent to our annual yield.

“We won’t be able to install them on every property we own because not every roof is suitable and some of our buildings are listed. But we will be doing surveys and putting them in where the survey is favourable and the tenants want the installation.”

The ‘Feed In Tariff’, which was launched by the Government last  year, will give people who are generating their own electricity with solar panels and other energy-saving products a payout.

Users of these products will be paid for the power they produce, the Governments are calling this a ‘sweetener’ for installing the energy-saving products. All additional electric is sent back to the National Grid.

 

Source- Landlord & Buy-to-let

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