Solar panels increase house value by offering asset equity and utility savings. Humans have been harnessing solar energy to produce electricity since the 1950s when the first photovoltaic cell was invented. The principle of solar power is that the sun’s energy is renewable and can therefore be used indefinitely, unlike fossil fuels of which there are only a finite amount. Commercially available solar panels harness the sun’s energy and convert it into electricity for powering the home. They can offer significant savings on utility bills by subsidising electricity that comes from the main grid. Solar electricity can also be fed back to the main grid for a tariff.
Solar panels are a veritable gold mine when it comes to valuating property. They offer significant savings on electricity bills and because of this add significant value to the house itself. That’s not even considering the asset value. In the United States, installing a solar panel on top of your house can add 4.1% value to homes. In Australia, most people are happy to pay an additional $10000 for a house that comes with solar panels included.
Indeed, 77% of participants surveyed by Origin Energy stated they thought homes with solar capacity were more valuable, especially when a solar battery is attached. A solar battery stores energy harnessed by the solar panels and stores it for later use. 55% of renters would be happy to pay an additional $10 per week to live in a home with a solar panel attached. 20% of Australians have a solar panel installed already and 57% are considering it within the next five years.
If you’re looking to sell, then a last minute solar installation can add serious value to your house. The Government offer solar subsidies to home owners to incentivize investment in the renewable energy sector too, which can alleviate the initial expense of purchasing panels and a battery. In Australia’s sunny climate you will undoubtedly experience savings on your utility bills, particularly during the warmer months.
Essential NRG supplies and installs solar panels across NSW. If you are interested in talking more about installing solar panels in Sydney please call Paul on 0409 381 978 for a quick catch-up. Paul has been in business for more than 15 years offering affordable rates and efficient solutions. Essential NRG is open 24 hours, Monday to Sunday, call any time for solar panels to increase house value.