Solar doesn't only save you dollars off your electricity bill, but it also increases the value of your property for when you sell or rent your home! In this article, we'll explain why the investment in a solar installation is worth the higher return.
What do the numbers say? The exact amount of how much value added can vary. According to Momentum Energy, the increase in retail value is estimated at just under 6,000 dollars per kilowatt of solar energy. For 6kW worth of solar panels on your roof this could add 34,000 dollars onto its current retail price!
But it can get even better!
Other sources (Origin Energy and RealEstate.com.au) state that 57 percent of homeowners in Australia say that they would be willing to pay up to 10,000 dollars more to buy a house equipped with solar.
If you add battery storage, this amount increases even more. There’s little doubt that solar is a very marketable asset for your home.
Value for renters and landlords.
Renters have indicated they would pay more for a rental property with a solar system, as they'll recoup the cost in savings off their energy bill.
Installing solar is a win-win for both landlord and tenant - increasing the value of the property and saving on electricity bills. Solar Victoria's Rental program provides a rebate of 1,400 dollars to reduce the cost of solar, with a further 1,400 dollars available in an interest-free loan.
Reducing the upfront costs Federal and state government incentives and rebates are available to Australians switching to solar, to reduce the initial installation cost. Some of these include discounts, and interest-free loans, as well as gaining financial benefits from the "feed-in-tariff" from any unused solar energy fed back into the grid.
Still not sure?
Other property investments like a pool don't appeal to everyone because of the extra maintenance work it requires. Whereas solar power is a selling point that attracts the vast majority of buyers, providing a saving for everyone! Electricity prices are set to rise again by 30%, so why not get ahead of the game and start saving off your energy bill?
Next steps:
All you need to do is get in touch and we'll understand your current energy situation, and work with you to design a customized, high-quality solar system that works for you and your energy usage. You can contact us on 03 9071 2468 or hello@energywired.com.au to get started.