How Solar Power Boost Home Value

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How Solar Power Boost Home Value

Solar power does not just reduce your energy bills but adds value to your home price as well. Yes! Multiple studies have shown that your house is worth more with solar panels.

Australians are increasingly adopting renewable energy in their lives; especially the consumption of solar power systems in Queensland is higher than any other state in the country. The sunshine state is leading with way.




How does a solar panel work?

It converts solar energy into electricity with the minimum cost possible. With ever increasing electricity price and growing climate concerns, Australia is revolutionizing solar industry with a whopping 2 million households with solar panels!

Once, the solar panel is installed on your rooftop, it needs little to no maintenance. It is highly sustainable. It relies largely upon the quality of solar panels though and how it is being installed as well. You can easily expect it to last for 20 years at least.


How much does it cost?

The cost of solar panel installation has fallen drastically over the last years. There was a time when the 1kw system was costing you around $10,000.

But if we talk about the price, today 6Kw and 3Kw solar power systems in Brisbane would cost you around $5,800 to $9000 and $3,500 to $5,600 respectively. It’s very much affordable and not only you get the best solar deals in Brisbane, but in any major city across the country.

There is a significant rise in solar battery purchase too along with solar panels. The Government has launched a scheme last November that gives interest-free loans up to $1000 for 1,000 combined solar power systems and batteries in Queensland.


How much does it actually increase your home value?

There is no exact figure, but the short answer is YES! However, there are various factors at play determining the cost of your house with solar panels, including the location and area of your house, the size of the installation, etc.

A recent survey reveals that around 85% of Australians believe solar panel installations increase the home value. There is a looming environmental threat and the scarcity of non-renewable resources has persuaded them to adopt renewable energy appliances.

The primary reason is the electricity bill. Solar panels slash power bills and save you MONEY! It depends of course on the size of the installation. A large solar panel generates more energy and cuts down the cost.

The Origin Energy conducted the survey last year in 2018. It included 1005 people aged 18 to 70 across all the provinces. The report shows that 77% Australians think that they are better off with a solar power house than a house with traditional energy sources.

57% of buyers are willing to pay up to $10,000 for a home facilitated with solar panels. 60% would at least pay more for a home with a solar panel and a battery. Even as a rental property, tenants are more likely to pay $10 extra a week for a solar equipped house.

Buyers now know the importance of solar energy and the benefits, it brings to them. The sales price of a solar home is generally 10% higher and a sustainable home takes 13 fewer days to be sold.

“When people are aware of the savings sustainable homes have, it is easier for them to decide if they want a house, particularly when they know the benefits they bring or not having to worry about the cost of installing them later,” said PRD nationwide national research manager Diaswati Mardiasmo


Conclusion

Your house is probably the most precious asset. If it is equipped with sustainable and eco-friendly features such as solar panels, battery packs and rain tanks, it gives you a competitive edge in the market.

This phenomenon is rapidly taking place as Australians are now aware of the advantages of renewable energy sources. Moreover, the cost of solar panels in Queensland and Australia, in general, is constantly getting lower. It is like a sweet spot of the deal for owners to sell off properties more than their face value!

Ever power solar is helping Australians to find the right solar solutions for their homes. We have installed solar panels right across Australia primarily in QLD, NSW, and WA. You can talk to one of our solar experts on 1800 819 617.

13 September 2020

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