The world is finally waking up to the raging climate crisis that threatens to change our lives forever. As more people take it on themselves to reduce carbon emissions and power their lives using clean, renewable sources of energy, it has become more important to homeowners to invest in homes that share the same values. So, do solar panels increase house value in Australia?
Let’s Talk Numbers
Does a solar power unit positively impact the value of your home? Exact figures are still difficult to come by, but sources indicate that if you install solar panels with a power rating of 5kW, it may help to add up to $25,000 more to the value of your home. Surveys have shown that 57% of homeowners are willing to pay up to $10,000 more for a home equipped with solar. Many sellers can further boost their asking price by installing batteries for extra storage.
Lifestyle Choices are Changing
Gone are the days of attracting buyers with pools and remodelled kitchens. The reality is that most potential homeowners are looking for a home that where living costs can be kept low and energy independence is a possibility. A solar power unit which has been used shows that the savings from solar energy are real and that the technology is advanced and reliable enough for long term use. The reputation of solar power has spread far and wide, and a robust solar system immediately signals long term savings.
The rental market has also acknowledged the importance of solar systems in homes. Solar energy is associated with lower energy bills and renters are looking for landlords who prioritise solar energy. As a landlord, you can rest easy knowing that your solar powered home is in high demand and always likely to generate renter interest.
Are Initial Costs Too High?
A popular myth about solar power is that the initial investment is too high. Over the last decade, as the technology enjoys greater widespread uptake, the cost of solar panels and other components has fallen drastically. Furthermore, Australian federal and state governments offer attractive incentives to help subsidise the cost of equipment and interest-free loans have made adoption even easier.
Many solar companies offer deals and monthly payment programs to help offset the cost of installation. Such partnerships between the public and private sector help reduce the barriers to entry into the world of solar and make this incredible form of renewable energy accessible to all Australians.
Real Estate Solar Panel Installation in New South Wales
Solar power units are a great investment for all kinds of homeowners not only because they help protect the environment, but also because they significantly boost the profile of their homes. Rooftop solar panels instantly increase the value of a home and position you as a forward-thinking homeowner, attracting a wider market of investors to your listing. Contact Hunter Valley Electrics for more information on going solar or obtain a free quote for real estate solar panels today.