Is it true that adding solar power systems to your commercial property increases its value? Yes, solar energy is a touted hidden asset to increase your commercial property value.
When your commercial property goes on the property market, it can be a massive battle to sell it. However, businesses with solar additions create an excellent sweet spot for potential customers.
So if you want to sell your commercial property, having a renewable energy system can be more appealing to investors interested in buying your property.
But how can a solar panel enhance the value of my commercial property? Let’s dive a bit deeper to understand the answer to this question.
Let’s Discuss How Does Solar Power Increase Your Commercial Property Value:
Reduction in Overhead Cost
Every business wants to cut its overhead cost. Overhead cost includes expenses outside of wages and operational materials.
One significant overhead expense is electric energy cost. When you switch to solar panels, your electricity bills get reduced by a significant margin. This is because every bit of electricity you generate from solar panels is electricity you won’t have to pay for.
It drops your overhead cost and makes you more electrically efficient. As reported, the average business can reduce their electrical overhead by three-quarters. That starts immediately after converting to solar power and continues at that rate for the rest of the system’s life.
Hence, when you decide to sell your property, you can use the solar power systems as a selling point. The new property owner will benefit from the reduction in their overhead cost.
Reduction in Electricity Bills
There is hardly anyone who wouldn’t like to save on monthly electricity bills. The latest figures reflect that Australian businesses save up to 31% of their energy cost after installing solar panels.
In cases where a company with solar power systems owns the site, you can reap the most significant property value-add, as it can result in a reduction in your electric bill.
This can give benefits to the buyers who are interested in buying a commercial property. When a potential buyer sees that solar panels power the whole building, they know that they can get benefit from lower energy bills which can raise the property’s value financially.
Low Maintenance Required
People look positively towards the business properties that have self-sufficient energy systems that require less maintenance. These people are more attracted towards solar panel systems as they require less maintenance.
Well, a solar energy system doesn’t come with moving parts. Moreover, the solar cells of these panels are commonly made with tempered glass and non-corrosive aluminum frames. Therefore, these panels can also withstand rain, hail, wind, and snow. It is one of the main reasons that help enhance your property value in the market.
Energy independence means generating your own electricity right there on-site. It clearly shows that you rely less on the National Grid and traditional utility suppliers to power your business. This aspect of the solar energy system can attract buyers to your commercial property.
As investing in a self-sufficient solar panel system can reduce their dependency on local power companies, which can ultimately reduce their electricity bills.
What Factors Affect the Value That Solar Panels Add to Commercial Properties?
You can reap the benefit of solar power by installing solar panels on your commercial property. However, once you decide to install solar panels, you may be wondering exactly how much property value will be added.
Well, it can vary from business to business. The property value a solar panel adds to your commercial property, depends on various factors, including:
- Location: Location is one of the key factors that decide how much property value a solar panel system can increase. If your commercial property is situated in an area that receives maximum sunlight in a year, your property value gets multiplied.
- System size: The relationship of the value of your property is directly proportional to the size of your solar panel. A more extensive system with better solar panels and a large solar capacity can lead to an increase in your land’s value.
- Ownership of the solar panels: The greatest value increase in property would come from the ownership of your property and the solar panels. An owned solar panel system can enhance more property value than the leased solar panel system as the owner can have access to tax credits and reduced energy expenses.
Why Choose Aus-Brite Solar?:
Aus-Brite Solar is known to offer the most effective energy solutions to all Australian households. Our solar panel installers provide the best solar panel deals in Sydney, NSW.
Contact us and make a switch to clean and green energy.