Are you considering adding solar panels to your home, and wondering if it’s worth the investment? Installing solar energy systems on residential properties is becoming a no-brainer among homeowners looking for ways to reduce their environmental footprint, as well as save on their electricity costs in the long run.
But an important question that many people ask is whether installing solar panels can actually increase the value of their home, or increase its desirability among buyers should they choose to put it up for sale later. In this guide, we’ll dive into the research on the topic and explore the potential benefits that come with investing in solar power for your property.
Advertisement
Will a solar energy system add value to your property?
The short answer is yes. To give you an idea, Origin Energy recently conducted a survey that found more than three quarters of Australians (77%) believed a home with solar panels was more valuable than a property without. The same survey uncovered that the majority of homeowners (57%) would pay up to $10,000 more for a home with solar.
Given the average solar system cost is roughly $5,600, the value panels may add when the time comes to sell could be a real bonus. This is especially true if you’ve already been living in the home for a few years and your solar has been helping offset your dreaded electricity bills.
Are buyers looking for homes with solar?
It’s no secret that environmental consciousness is on the rise, and it seems that potential homebuyers in Australia are no exception. More people are considering the impact their homes have on the environment, and solar power is a popular choice in reducing their carbon footprint. Not only are eco-friendly benefits a plus, but also saving on power bills.
So, what size solar system are buyers typically looking for? Well, it varies. Some might be content with a smaller system that offsets a portion of their energy usage, while others might want a larger system that can power their entire home. Ultimately, it depends on individual needs and preferences. But one thing is for sure – buyers are taking solar into consideration when searching for their dream home or next investment.
Factors to consider before installing solar panels
As a homeowner, it’s important to consider a few factors before investing in solar panels. One major consideration is whether installing solar will increase the value of your home and make it more appealing to potential buyers down the track. The immediate answer is yes, buyers are increasingly interested in energy-efficient homes and solar panels are a big selling point.
Not only do they offer cost savings on energy bills, but they also demonstrate a commitment to sustainable living. However, it’s important to keep in mind that the location of your home, the size and positioning of the solar panels, and the quality of the installation all play a role in how much value they will add to your property. So, before you make the investment, it’s a good idea to do some research and consult with experts to ensure you’re making a smart decision for your home’s future.
Related content:
How to leverage solar to potential buyers
With the increased interest in sustainable living, solar power is a huge selling point for homes. Making sure to highlight the benefits of having solar, such as lower energy bills and a reduced carbon footprint, are easy ways to get buyers interested. This, however, will depend entirely on your marketing strategy and whether you are selling through a real estate agency.
Most real estate agencies are active on social media channels like Facebook and Instagram, which can help draw more attention by showcasing your house with solar. This is particularly important to potential buyers if there is a pool at your property or other energy-draining appliances. With the right marketing strategies, your home should be in the best position to sell as quickly and as profitably as possible.
Solar plans and prices
Here are some of the cheapest solar-specific deals from the retailers on our database. These costs are based on the Ausgrid network in Sydney but prices will vary depending on your circumstances. We show one product per retailer, listed in order of lowest price first. Annual price estimates assume general energy usage of 3911kWh/year for a residential customer on a single rate tariff. Price estimates exclude solar feed-in tariff credits. These are products from referral partners†. Our database may not cover all deals in your area, and please check retailer websites for up to date information.
Here are some of the cheapest solar-specific deals from the retailers on our database. These costs are based on the Citipower network in Melbourne but prices will vary depending on your circumstances. We show one product per retailer, listed in order of lowest price first. Annual price estimates assume general energy usage of 4000kWh/year for a residential customer on a single rate tariff. Price estimates exclude solar feed-in tariff credits. These are products from referral partners†. Our database may not cover all deals in your area, and please check retailer websites for up to date information.
Here are some of the cheapest solar-specific deals from the retailers on our database. These costs are based on the Energex network in Brisbane but prices will vary depending on your circumstances. We show one product per retailer, listed in order of lowest price first. Annual price estimates assume general energy usage of 4613kWh/year for a residential customer on a single rate tariff. Price estimates exclude solar feed-in tariff credits. These are products from referral partners†. Our database may not cover all deals in your area, and please check retailer websites for up to date information.
Here are some of the cheapest solar-specific deals from the retailers on our database. These costs are based on SA Power network in Adelaide but prices will vary depending on your circumstances. We show one product per retailer, listed in order of lowest price first. Annual price estimates assume general energy usage of 4011kWh/year for a residential customer on a single rate tariff. Price estimates exclude solar feed-in tariff credits. These are products from referral partners†. Our database may not cover all deals in your area, and please check retailer websites for up to date information.
Is solar a smarter way of adding value to your home?
In today’s competitive housing market, every little advantage counts, and having a solar system already installed can give you a leg up. Not only will buyers love avoiding upfront installation costs, but they’ll also appreciate all that free power rolling in and giving them extra bang for their buck. And let’s face it, who doesn’t love saving money in this economy?
As the world becomes more energy-conscious, buyers will appreciate that their home is less reliant on grid electricity as well as being more efficient than others. It really is a win-win situation for everyone involved, so why wait? Hit the link below to compare some of the best solar installers in Australia.
Share this article