In this episode of Zen and the Art of Real Estate Investing, Jonathan sits down with Owen Barrett, CEO of Shine. Shine helps multifamily property owners improve their net operating income by utilizing onsite solar. With a background in clean energy and finance, Owen brings a practical perspective to a space many investors overlook. His message is clear: Solar isn’t just about being green. It’s about making properties perform better financially.
Why Solar Works for Multifamily Properties
Owen didn’t start with small-scale real estate. His first property was a 64-unit building where he tested solar as part of a broader value-add strategy. That experience led to the founding of Shine, a company specializing in solar solutions for apartment buildings. The model works best with 100+ unit assets, but the core ideas apply across many property sizes.
When done right, solar increases income, lowers operating costs, and boosts retention. Owen’s approach focuses on helping investors realize benefits like:
- Increased NOI from reduced utility expenses
- Bonus depreciation and transferable tax credits
- Stronger tenant retention through lower energy bills
- Less exposure to utility inflation and grid volatility
- Early-stage planning that improves execution and ROI
Strategy Starts with the Roof
Not every property is ready for solar. A roof’s condition, sun exposure, and layout can all impact the installability and potential returns. Owen stresses that investors should evaluate solar at the acquisition stage, and waiting until after closing often leads to missed opportunities and tighter budgets.
Shine works with owners during due diligence to run the numbers, design a site-specific system, and plan for billing integration. Their proprietary platform handles billing for individually metered units, one of the biggest technical hurdles that previously slowed down solar adoption in multifamily buildings.
Pitching Investors the Right Way
Institutional investors and syndicators approach solar differently. Some care about ESG scores, while others are focused entirely on cash flow. Owen’s advice: don’t lead with environmental benefits. Lead with the numbers. Solar increases revenue, reduces expenses, and adds value—period.
By shifting the conversation to ROI, operators gain buy-in faster. And when tenants see real savings on utilities, retention goes up and turnover drops.
What You’ll Take Away from This Episode
- Solar isn’t just eco-friendly. It’s a revenue strategy.
- The right tax planning can enhance solar’s financial impact.
- Early planning beats retrofit installs every time.
- Technology now makes solar billing manageable across tenants.
- Investors respond best when solar is presented as a profit driver.
- Tenant satisfaction improves when utility bills are predictable and lower.
Owen’s approach proves that solar belongs in every multifamily investor’s toolbox, as long as you know how to use it right.
If you want to learn more about Zen and the Art of Real Estate Investing Podcast, check out https://zenandtheartofrealestateinvesting.com/podcast/256/.