The Victorian government is now offering rebates to investors who have energy-efficient appliances in their properties – a move which could help people ‘future proof’ their investments, according to a sustainable energy company.
The Victorian government’s Energy Saver Incentive offers rebates to landlords on items such as LED lighting. A number of industry stakeholders believe this program could assist investors to increase their rental yields.
“Tenants and prospective buyers are certainly attracted to properties that feature energy saving technologies like solar panels and LED lighting – and we’re seeing premium returns for these residences,” LJ Hooker’s Richard Rossiter said.
In addition, Ben Wright from cheryLED said LED lighting uses 15 per cent of the energy of a standard halogen, which will appeal to cost-conscious tenants.
Mr Wright said LED lighting boasts a 13-year lifespan compared with typical incandescent lights, which last just 3,000 hours.
According to cherryLED, the switch to LED lighting will help investors reduce the risk of ceiling fires, which have been associated with poorly installed, heat-generating halogen downlights.