How Can You Increase The Value Of Your Home With Solar Installations
As more and more Australians embrace renewable energy and reduce our carbon footprints, the popularity of solar panels has steadily increased. It has become evident over the last few years that potential buyers and renters alike are looking for homes that not only are in prime locations but also have features such as solar panels.
How Much Does Solar Power Affect The Property Market?
Research over the years has shown that prospective buyers are not only willing to pay more for homes with solar, but that they increase the value of the property by $6,000 per kilowatt or more, which is an approximate increase of $29,000 for a 5kW solar panel installation.
Similarly, installing solar panels has been shown on average to increase the value of your property by 3 to 4%. Further research has shown that 57% of Australian homeowners are willing to pay an additional $10,000 for homes with solar panels, which increases if there is also battery storage. That’s one of the many reasons that Aztech Solar installs solar systems and they can install one on your NSW property too.
How Does Solar Affect Property Value?
- The size of your solar panel system will affect any increase in the value of your home. The larger the system, the greater an increase in value, not only today but in the future, especially if the system is large enough for the house and runs at peak efficiency.
- Leased solar systems vs. owned solar systems; taking over a solar lease can be a complicated process and not many potential buyers want to deal with that situation.
- Home location and aspect will not only affect where you can place the solar panels but also how efficient their placement is.
- Solar Panel warranty can be a big deal, especially if the warranty isn’t transferrable so be sure to talk to your provider about extended warranties, the life span of the system, and whether it will transfer to the new owners.
Things To Consider When Selecting A Home Solar System
When shopping for solar panels, keep in mind what type you prefer. Since solar panels come in different types such as bi-facial, monocrystalline PERC, polycrystalline, thin frame, and more… it’s a good idea to compare them to choose the best return for your investment – different photovoltaic modules efficiencies will affect how well they work for your location and aspect.
Just as you should search for the best energy rating on in home appliances, people who are shopping for homes will also be looking at the home’s energy ratings. Having a big enough solar system to negate energy usage, will go a long way toward improving the efficiency of the home and improve the property’s value.
Solar and energy efficiency
Other ways you can improve your home’s energy efficiency include using the power during the day when your solar panels are producing energy.
- Water heater – switch it to daytime heating, take showers/baths during the day, and use the laundry/dishwasher during the day.
- Lights – switch to LED lights and bulbs to save energy during the evenings.
- Air Conditioners – use these during the day to keep the house cool and turn it off at night.
- Pools – if you have a pool that runs off solar electricity be sure to switch it to run during daylight hours rather than during the night.
- Appliances – upgrade to more energy-efficient appliances so that you’re not using excess electricity throughout the night and day.
Solar Power And The Rental Market
While we understand that solar power appeals to many purchasers, a commonly overlooked group is renters. Renters have a lot of things to look for in prospective properties and, as we’ve seen, there’s an increased demand for solar installations in rental properties as well.
With the installation of solar panels, not only will the landlord be increasing their property’s value, but it’s more likely to stay rented out.
- 3/4 of surveyed renters would willingly pay extra to live with solar energy.
- 2 out of 5 renters would pay $10 a week extra for solar energy.
- Solar investments can be used to offset your tax.
- Rebates or interest-free loans may be available depending on where you live.
Solar: Quality Versus Quantity
Whether you’re looking to buy solar panels for your home or you’re a buyer looking at a home with solar panels installed, you’ll want to pay attention to not only the quality of the panels but also how well they were installed.
You may have the top-of-the-line inverter and panels installed, but an incompetent installation can affect safety and system performance capabilities. Ensure that your chosen installer has the experience and licensing necessary to do a great job with your solar system installation.
If you are interested in getting an excellently installed solar system on your NSW property, contact Aztech Solar, today. The contact details are listed at the end of this article.
Make Use Of Wasted Space
We’ve seen a rise in demand for disused spaces to be utilised, whether it is under-the-stairs storage or quiet corners of the yard, the movement to use what we have is steadily increasing.
This is another reason to make use of roof spaces by installing solar panels. We’ve seen that instead of viewing the roof as a liability (maintaining roofs can be costly at times) it can become an asset by turning it into a green space, whether through gardens or solar panels, or even both.
As technology is consistently changing the way we live, companies such as Tesla are creating and refining the process for solar tiles which we could see become an affordable choice for every home in the future.
Do You Want To Increase The Sale Appeal Of Your Property?
If you’re getting ready to sell your property or just want to help increase its value for when you are ready, just remember that potential buyers will always look for the best value for money options.
Having solar options for power, and even a hot water system, offers lower energy bills on a silver platter for interested parties. With most young Australians focusing more and more on living green, their devotion to decreasing their environmental impact means they will look favourably on properties with solar systems.
For solar installation options, contact the team at Aztech Solar today on (02)40672634 or visit our website at aztechsolar.com.au. Alternatively, click here to request a FREE Onsite Quote and we will be happy to help.