Let’s get straight to it. The answer is “yes,” solar panels increase property value. But one three-letter word doesn’t quite cut it. To make this observation more meaningful, we need to gain some insight into all the whats, whys and wheres of solar panels in Ipswich.
For example, homes fitted with solar panels will sell up far more quickly than their non-solar cousins. Australians are always on the lookout for ways to reduce their carbon footprint, so the financial benefits of solar panels seem like an all-round win-win.
Read on to discover why there’s a rush on solar panels and how you could benefit.
The Positive Impact of Solar Panels in Ipswich
Your home is likely to be your most valuable asset. It pays to look after it well. Maintaining it means you’ll enjoy it more, and it will also have a positive impact on how much your property is worth,
More than eight in ten Australians say that installing solar panels boosted a property’s value. There are dependencies that include:
- The kind of solar panels installed
- The cost of the solar panels
- The location of your home
A quarter of Australian homes have solar panels installed, which has increased their resale value by up to $6,000 per kW of panels installed. This means that around 4 per cent of a home’s value is due to solar panels. One caveat: it is also true that not all home improvements pay for themselves.
Solar energy is an inexhaustible power resource. Harnessing it involves silent, versatile and efficient technology. One of the huge advantages of solar energy is that it is self-generating, and you can use it anywhere. Its benefits will only grow in value in the future.
The most important of these is that it helps to protect our planet from climate change. By capturing and exploiting the sun’s rays, we can reduce our reliance on fossil fuels that produce harmful greenhouse gases.
Solar Panels: An Energy Solution for Today
The majority of Australians view solar energy in a positive light. It’s an obvious selling point for any home. There is also an incremental correlation between roof size and value; the more solar panels are on the roof, the higher the property’s value.
Estimates suggest that an almost $6000 increase per kilowatt of solar energy translates into a $29,000 boost to the home’s retail value for a 5kW installation. With electricity prices potentially fluctuating so wildly, the advantages of solar power in the home will become even more evident.
It’s Easier to Sell
Once you’ve put your house on the market, solar panel installations can boost the number of potential buyers and viewings. This mitigates the risk of slow sales and missing out on another property you can’t buy until you’ve sold up.
There is a link between solar panels in Ipswich and the time it takes to sell a property. Estimates suggest a 20 per cent reduction in the time between initial marketing and closing a property deal.
Your Property’s Investment Value
The investment value of your home is the amount of cash it adds to the property’s sale price. Surveys show that most people who sell their homes say they believe that solar panels increase property value.
Research also shows that the number of solar panels installed on a home’s rooftop is important. The more there are, the bigger the increase in a property’s value. Every 1kW of solar installed can boost your home’s value by as much as $6,000. A 5kW installation could add around $29,000 to your home’s resale value.
Solar panels offer the opportunity to increase your home’s value by as much as 4 per cent. For instance, if your home is worth $290,000, the increase could be anywhere from around $8,500 to $11,600. Monetary value aside, on average, homes with solar panels will sell much quicker than those without.
Although the initial investment is high, solar panels can greatly reduce, if not eliminate, your bills for electricity supplied by the grid. Continuous energy savings are an excellent selling point. They also add to a greater sense of freedom and satisfaction.
Value of Consumption
We refer to the environmental benefit you get by using a renewable energy source as the consumption value. A number of factors will play a part in the value a solar panel system can add to your property. The critical dependencies are:
- The location of your home. Installation in areas where there is a more active solar market can bring in a better return than in places where solar markets are not as vibrant
- The installation’s size. The quality and number of solar panels you install have a direct connection to the increase in a property’s value. The more solar panels you have, and the higher their quality, the greater the value of your property.
Reports suggest energy-efficient homes attract more potential interest from buyers, sell quicker, and achieve better sale prices.
For example, the premium paid for a medium-priced energy-efficient house around two years ago was $124,000, or just over 17 per cent more than for a non-efficient alternative. For energy-efficient units, the extra paid was a bit lower, at around $73,000, or almost 13 per cent more.
Pocket the Difference by Working With Charged Energy
Charged Energy offers a range of solar panel solutions that we tailor to your home and budget. We will help you reap all the benefits, including how solar panels increase property value. Installing solar panels in Ipswich will:
- Bring you long-term savings by reducing or even eliminating your power bills
- Earn your credit by generating excess and selling it back to the grid
- Allow you to take advantage of the available government incentive
- Make a measurable impact on the world’s environment
Contact one of the friendly team at Charged Energy today and take advantage of all the financial benefits of solar panels. We can provide a more detailed analysis of how solar panels increase property value, tailoring panels and batteries for maximum return.
