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Installing a solar and battery system can increase the value of your home, with the current attention towards renewable energy and the abundance of sunshine in Australia. A solar and battery combo system can be attractive for prospective buyers—especially those looking to reduce their environmental impact and electricity bills.
Research has shown that 77% of Australians think solar panels and battery storage add value to a property. With 57% of people say they would pay an extra $10,000 for a property with a solar system already installed. A property with a battery also could add more to this estimate. Additionally, homes with solar systems can sell up to 20% faster than those without.
However, the increase in value is based on the quality and number of panels and battery capacity installed.
Will my solar panels and battery increase my property value?
If you are considering purchasing but are unsure of the benefits that come with a solar system installation, then we hope we can give you the information. When you decide to install solar panels & battery systems, one of the many benefits is its ability to increase your property value.
Suppose you have been looking for ways to improve your property value and increase your home’s energy efficiency. Look no further because a solar panel and battery system may be your solution. With the current attention towards renewable energy and abundant sunshine in Australia, such a solar system seems like an obvious choice.
Therefore, in the current housing market, prospective buyers looking to reduce their environmental impact and electricity bills will pay more for a house with a quality solar PV system.
People’s thoughts on solar panels and battery systems
Research into this topic has also shown specific numbers one can expect when selling a home. A survey by Origin Energy in 2018 highlighted how 77% of Australians think solar panels increase the value of a property.
This survey also explored how much Australians would pay on top of the original house price. With 57% of people saying they would pay an extra $10,000 for a property with a solar panel system already installed. Finally, the survey also explored renters’ perspectives on homes with solar/battery systems, where the results showed that 55% of renters stated that they would pay an extra amount per week for a house with a solar system.
Furthermore, although it is not considered as ‘value’ in the current market, there is no guarantee that listing your property will mean it will sell. However, installing energy-efficient products like solar, batteries, and heat pumps can make the property sell faster.
Studies focusing on solar panels only have shown that homes with solar power systems can sell up to 20% faster than those without. Considering this can still contribute to increasing your property’s value because when your home doesn’t sell, it causes stress and puts your life on pause.
Do not forget about rental properties
In the lively world of renting homes in Australia, landlords have a fantastic chance to make their properties even more appealing by adding solar systems. People these days absolutely like the idea of living sustainably, and homes with solar panels are like magnets for potential tenants. Well, besides the current housing shortage, making your place more energy-efficient with solar power can pay off significantly in the long run.
For renters, having solar panels means one thing: saving money as these panels soak up sunshine to make power, which translates to lower electricity bills for the folks living in the house. In a world where everyone’s worried about the cost of living, having solar can be a game-changer, making your property stand out and attracting tenants who love the idea of saving some cash while being kind to the planet.
Now, you might be wondering about the future – what with the ongoing housing crunch and all, well it turns out, going solar isn’t just a trendy thing; it’s a smart move that pays off down the road. Beyond meeting the current demand for eco-friendly living, it’s like giving your property a secret weapon. In a time where being green is cool, having solar panels can keep your property on the top of everyone’s list.
Is it guaranteed that my property value will increase with solar panels?
In saying this, there is no guarantee that the minute you install solar panels, a battery, or an EV car charger, your property’s value will increase immediately. This is because the increase is based on the quality and number of panels you have installed, as well as the capacity of the battery and its functionality. Therefore, ensure you install a quality solar panel system and comprehend the various aspects of your system, enabling you to advertise it appropriately when you decide to put it on the market.
Given the current price rise of electricity and the likelihood of this still increasing, a solar system by itself or with a battery may add even more value to your property in the near future.
So how much extra could one expect for a top-quality solar panel system?
Thinking about adding solar panels and batteries to your home? Well, here’s some good news: people might be ready to pay an extra $25,000 to $35,000 for a home with these cool additions compared to
If you’re renting out a place and put up solar panels, you could actually charge a bit more in rent, Why? Because the solar system will save your tenants a bunch of money on their electricity bills like a win-win situation – you make a little more, and your tenants save some cash.
So, if you’ve been thinking about getting a solar and battery system but weren’t sure, remember it’s not just about saving on energy bills. Other perks too, like making your home more valuable, it’s like giving your place an upgrade that pays off in many ways.
