With the sun shining generously across the Australian landscapes, homeowners often find themselves grappling with one burning question: How much value can solar energy actually bring to my property? If you’ve ever mused about harnessing the sun’s power for your home, you’ve landed in the right space. Let’s navigate through the solar landscape of Australia and discover its golden benefits.
A Spotlight on the Solar Trend
Australia has the highest uptake of solar PV systems globally, with around 3.4 million`rooftop installations in use, solar panels are not just a trend but are evolving as a norm. Potential homeowners and investors have come to appreciate the advantages of properties equipped with these sun-soaking beauties. But why?
The Quick-Sale Magic of Solar Panels
Stepping onto the property market battleground with a solar-powered shield gives homeowners a distinct advantage. Interestingly, research reveals that homes boasting solar installations fly off the shelves almost twice as swiftly as their non-solar counterparts. Simply put, your solar panels might just be the sweet cherry topping that attracts potential buyers.
The Monetary Boost
Solar installations aren’t just about saving the environment; they’re also about amplifying the value of your biggest investment—your home.
Let’s talk numbers!
Data shown on https://www.roymorgan.com/, over the last four years the installation of Solar Energy Systems around Australia has boomed, up from 1.32 million (14% of households) in 2018 to over 3.2 million (32%) in June 2022.
Based on data from whataustraliathinks.org.au, 30% of Australian Household expect to install solar panels within the next 1 to 10 years
On Real Estate Survey you can see that a staggering 85% of Australians believe that solar panels spruce up property value.
From the data above you can see that people are looking for homes that are energy efficient. Installing rooftop solar panels can help you to sell your home faster.
Further study says for every 1Kw of solar energy you harness potentially escalates your property value by $6,000. A nifty 5Kw installation? That might just fetch you an added $29,000. So, if your house presently stands tall at a value of $300,000, solar energy could uplift its worth by a whopping $9,000 to $12,000.
As you revel in the above figures, remember: the size of your solar installation will influence the potential value increase. Think of it as accessorising – the more solar panels you sport, the shinier your property looks to a potential buyer. It’s simple math; more panels equal more power, which in turn equals greater property value.
The Road Ahead
Thinking about your home’s future? Adding solar panels is a smart move. Many say solar panels increase property value. But, the true benefit depends on where you live, the panel quality, and how you maintain them.
Solar energy is the future. Adding it to your home helps the environment and gives you a financial advantage in Australia’s real estate market. Solar power boosts property value, making it a smart investment.