Are you interested in investing in solar energy for your home but are unsure of your decision?
You may look for ways to add value to your home prior to the selling, or you may wish to add a new feature to your investment to ensure that your property stands out in the property market.
When your house goes on the property market, it can be a massive battle until it is sold. However, homes with solar additions create good sweet spots for potential customers. In addition, investing in solar energy is a global topic and is in the minds of many Australians.
Solar panels seem an obvious choice with the rising emphasis on renewable energy sources and the abundance of sunny days in Australia. For a prospective buyer, a solar panel-installed home can be an attractive concept.
Certain studies have shown that homes with solar panels sell two times faster than homes without solar panels. So this renewable energy investment can give a competitive edge to your home in the market.
But how much value can solar panels add to your property?
Let’s dive a bit deeper to understand how does solar increase property value
Since the Australian public positively views solar energy, it follows that this can be a selling point for your home. Installing rooftop solar panels on the home makes it sell more quickly.
Homes With Solar Panels Could Sell up to 20% Faster Than Homes Without Solar Panels:
Today, home buyers are increasingly looking for homes that are energy efficient. The Real Estate Survey of Australia found that over 85% of people agreed that solar panels add value to their property.
Further, studies have shown that for each 1Kw of solar installed, your home value could increase up to 6000$. A 5kw installation can increase your property value by $29,000. It is generally seen that solar panels can add up to 3-4% to your home’s value.
For example, if your property’s value is worth $300,000, that means an increase of anywhere between $9,000 to $12,000.
Generally, the size of the installation will influence how much value is added. The more panels you will install, the greater will be the increase in your property’s value. Therefore, installing solar panels can benefit your home in the long run.
To upscale the value of property in the future, installing a solar panel is a wise decision. Today, the solar market is bombarded with numerous companies claiming that this would be the best investment for your home. However, the true benefits of installing solar panels depend on quite a few factors.
So let’s cut to the chase and throw light on certain factors that play a significant role in marketing your property.
Solar Panels Ownership Status:
Solar panel ownership status helps determine the value to your property in the long run. For example, a house with owned solar panels sells more quickly than a home with leased solar panels. In addition, when you own your solar energy system outright, you are likely to get more money for your home.
However, if you have leased a solar system, the chances are that many potential customers are not familiar with the process of taking over a solar lease. This could complicate your process of selling a home. Therefore, you should always consider the ownership status before installing solar panels at your home.
Considering Your Home’s Location:
Location is an essential factor in determining how much your home value will be increased. Solar panels installed in the areas with the best exposure to sunlight will have the highest energy output. This will improve the energy efficiency of your home and will ultimately increase its property value.
However, not every home can have the best sunlight exposure. Therefore, if your home is not getting enough exposure to sunlight you can talk to your solar installer for the right positioning and right size of solar panels.
Considering the Warranty of Solar Panels:
While installing the solar panels, you should also consider the warranty factor. Your property value will strategically shoot if your solar panels have an extended warranty, life span, and are of premium technology. Most solar panels in the market have a warranty that can last up to 25 years.
Moreover, there can be certain buyers who are willing to know about the warranty on solar packages. Therefore, while buy solar panels NSW, you should always ask your solar provider what will happen to the warranty when you will sell your home.
Size of Installation:
The value of your property is directly related to the size of your solar panel system. Therefore, if the solar panel system is sufficiently large for your house and runs at peak efficiency, you are likely to see an increase in your property value.
Type of Solar Panel:
A significant consideration for any solar system could be photovoltaic efficiency. The efficiency of photovoltaic modules will decide your solar power system’s return on investment by guaranteeing you the optimal return on output on solar energy.
There can be various types of solar panels, including monocrystalline PERC, polycrystalline, thin frame, bi-facial, etc. you can compare them on multiple parameters and choose the kind of solar panel that gives the best return on your investment. The system that will generate the best return on your investment will increase your home value in the long run.
Better Energy Ratings:
Higher energy ratings not only save your money in the short run but can also add to the value of your home in the long run. Home energy ratings are the ratings that are based on information about a home’s layout, construction materials, and climate suitability.
A government study on energy ratings revealed that an improved energy rating of 1% could improve your property value by 3% on average. Energy efficiency is becoming a selling point for homes. Therefore, you should think of improving your home energy ratings to improve your property value.
Why Choose Aus-Brite Solar?
If you are looking to hire a true solar partner, there is no better platform than Aus-Brite Solar. We bring innovative solar panel solutions to people living in Australia.
Contact us and join the league of making sustainable energy choices.