Do solar panels add value to your home or investment property?

As the addition of a solar power system has become increasingly common and more affordable in the past 10 years it’s no surprise we’re seeing the development of new home build packages inclusive of solar power systems and properties with ready installed solar power systems out on the real estate market.

house with solar panels

In fact, some homeowners looking to sell, are installing a solar power system as a way of making their property stand out amongst the rest.

Recent research is showing that to buyers a household with a high-quality solar power system is a favourable selling point due to the opportunity of eliminating high electricity bills at their new property.

As homes with solar power systems are being viewed by Australians as a better future investment and more valuable than a standard property, the market is showing that people are willing to pay more for properties with readily installed systems.

In a report by Origin Energy statistics revealed that 57% of homeowners said they would pay up to $10,000 more for a home equipped with solar, and 60% would pay even more for a home with both solar and battery storage. Those with investment properties could also benefit with results stating that 55% of renters would be willing to pay up to $10 a week more in rent for a property with solar.

solar savings

In addition to the benefit of lowered electricity bills, those looking to buy are also wanting to reduce their negative environmental impact and found this aspect of a solar home very appealing.

Another study in the US also found that homes with ready installed solar power systems were so sought out, that they sold 20% faster than a house without solar, which is a trend we are starting to see in the Australian property market also.

Solar Panels Are An Investment For Present and Future

For Australians who aren’t quite ready to sell or are unsure if they will in the future, the addition of a solar power system is still hugely beneficial. As a homeowner you could be minimising your current electricity bills while increasing your property value and desirability for future years, should you decide to sell. Quality solar panels have an expected lifespan of at least 25 years with warranties to match which means you’ve got plenty of time to decide whether you want to sell or stay put with lower electricity bills.

Ready to give your property the unique selling point it needs to stand out in the current market?

Request 3 solar quotes from local solar providers to find the best deal for you!

 

Download Your FREE Beginner’s Guide To Solar Power!

Beginners Guide to Solar Power

If you’re considering solar for your property or just looking to maximise the savings for your solar system, download a FREE copy of our "Beginner’s Guide To Solar Power".

Become an expert and better understand the ins and outs of solar power and solar PV systems for your property.

Includes detailed explanations and diagrams of the various types of solar systems and their parts, solar battery storage systems, Government incentives, expected ROI periods, finance, energy saving tips and more!

Download Your Free Copy Now!

 

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Understanding Batteries

Off-Grid Systems

For some households a battery system can be of great benefit and minimise a home’s reliance on the grid. However, it’s important to understand for a battery to be useful your solar system needs to be generating excess energy for the battery to store, which you can then use at night or when the sun is not out.

When selecting a battery, you’ll want to invest in a system that is most suited to your home and can drive the best return on investment (ROI). Despite a larger upfront cost, a higher quality battery may significantly increase your ROI.

    Battery systems start from $6,000 and costs can vary greatly based on the following factors:

  1. Cycle Life-Time

    The number of times a battery can fully charge and discharge.

  2. Battery Power (kW)

    How fast it can be charged or discharged.

  3. Storage Capacity (kWh)

    The maximum amount of energy a battery system can store.

  4. Battery Management System (BMS)

    An electronic ‘smart’ system that gathers data and manages the battery ensuring it does not overload or operate outside of its safe functioning zone..

  5. Inverter

    Battery systems require their own inverter if your solar system does not have a hybrid inverter.

  6. 'All-In-One Unit’

    A system which includes the battery, BMS and an inverter all in one unit.

  7. Warranty

    Length of time or cycles the battery system is under guarantee.

  8. Blackout Protection/Backup

    It’s important to note this is not a common feature of a battery system and could cost thousands of dollars to include. Blackout protection not only requires additional components but also a specialised installation and rewiring. For grid-connected homes, the cost for blackout protection can outweigh the benefit.

Additionally, if your purpose for adding battery is to go Off-Grid and become completely independent from the grid you will need to ensure your solar system can generate enough energy to power your home and your battery system is large enough to store this energy. For homes in metro areas going Off-grid is not cost effective and is only recommended for those in remote areas with limited access to the grid. Off-grid solar systems with battery start at approximately $30,000.