For many people in Australia, their house is the most important thing they own, and caring for it is essential to keep its worth. Adding extra things can improve its resale value.
But how can you make your house worth more? Most people think solar panels boost your home’s resale value in Australia.
Houses with solar panels sell quicker, up to 20% faster than those without. But do solar panels indeed make your house worth more?
Whether you plan to sell your house or not, you might wonder if getting solar panels will make it worth more. The simple answer is YES!
The Clean Energy Regulator says one in every four Aussie homes has solar panels. Solar panels can make your house worth up to $6,000 more for every kilowatt of panels you have. That means about 4% of your house’s value comes from solar panels.
Will Solar Panels Boost the Resale Value of Your Home?
The short answer is yes. Most Australians (77%) think a house with solar panels is worth more than one without. Most homeowners (57%) would be willing to pay up to $10,000 extra for a house with solar panels.
Now, let’s talk numbers. On average, a solar panel system costs about $5,600. If you decide to sell your house later, having solar panels could boost its value, which is excellent news. This is especially true if you’ve been using solar power to reduce electricity bills for some time.
Do People Want to Buy Homes with Solar Panels?
Yes! Nowadays, more and more Australians are thinking about how their homes affect the environment. Solar energy is a popular choice because it helps reduce our carbon footprint. Plus, it saves money on electricity bills.
Some might be happy with a small-scale system that covers part of their energy needs, while others might want a bigger one that powers their whole house. It all depends on what each person wants. But one thing’s clear: buyers consider solar power when looking for their perfect home or investment.
Why Solar Energy?
Everyone needs electricity or some kind of power in their homes. If you can reduce the cost of using electricity by installing solar power, people will see your home positively when you put it up for sale.
Solar-powered heat pumps have been around for a long time, so people are more familiar with solar power than other alternative energy sources. Nowadays, there are many more solar panels on the roofs of houses than just five years ago.
Statistics show that almost 19% of Australians now use solar energy at home, whether just for heating water or a complete solar panel system that sends extra power back to the grid.
Here are some helpful tips for getting the most out of solar energy at home:
- Use electricity during the day when solar power is being produced.
- Adjust your water heater to heat up during the day instead of at night when electricity is usually cheaper.
- Use energy-saving LED lights or bulbs in the evenings.
- Cool your house with the air-conditioner during the day and turn it off at night.
- Set the pool pump to run during the day, not at night.
- Upgrade old appliances like refrigerators that use a lot of power.
Aussies Prefer Solar Panels
Since most Australians prefer solar energy, it can make your home more appealing to buyers. Studies show that the more solar panels you have on your roof, the more valuable your home becomes.
For each kilowatt of solar power, your home’s value could go up by almost $6000. So, for a 5kW solar system, your home’s value goes up by over $29,000.
As electricity costs are expected to rise, the benefits of having solar power at home will become even more apparent.
Value of Investment
The extra money it brings to your home’s selling price is called investment value.
According to a survey by Australian Real Estate, over 85% of people think that solar panels and solar batteries make their property worth more.
More and more Australians are choosing sustainable energy sources, and solar power is one of the top choices.
The value of a home goes up based on how many solar panels are on the roof. For each 1kW of solar power, your home’s value can increase by up to $6,000. So, if you install a 5kW system, your home’s value could increase by $29,000.
Solar panels can increase your home’s value by up to 4%. For example, if your home is worth $300,000, the increase could be between $9,000 and $12,000.
Plus, properties with solar panels sell about 20% faster. Buying a property with installed solar panels can appeal to buyers who want to reduce their environmental impact and save on electricity costs.
Value of Consumption
The environmental benefits of having an eco-friendly energy source are known as consumption value.
The amount of value that solar panels add to your home depends on several factors, including:
- Where your home is located – Solar installations in active solar markets can give you a better return on your investment than in less developed areas.
- How big the installation is – The increase in your property’s value is linked to the number and quality of solar panels you have. More and better-quality panels mean a massive boost in your home’s value.
- The value of your home – Bigger, more expensive homes see a more significant increase in value when solar panels are installed.
Solar panels could be a good choice if you plan to sell your home soon or want to increase its value over time.
Reselling Fast is Part of the Process
Selling your home fast is essential. It’s easier to focus on other things once your home is sold. It’s like your life is on pause until the right buyer comes along and buys it.
You can only move forward with your plans and settle into a new place. Having solar panels on your home can help it sell faster.
Compared to homes without solar power, yours could sell up to 20% quicker. This is another way solar power adds value to your home and your life.
With more people interested in living sustainably, solar power can help sell your home. You should point out the benefits of having solar, like lower electricity bills and helping the environment by reducing carbon footprint.
But how you do this will depend on how you’re trying to sell your home, whether it’s through a real estate agency or not.
Most real estate agencies use social media platforms like Facebook and Instagram. They can help attract more people to your house by showing off its solar features.
This is especially important if your property has a pool or other energy-hungry appliances. With the right marketing strategies, your home should be in an excellent position to sell quickly and for a reasonable price.
Essential Factors to Consider Before Purchasing Solar Panels
There are some key factors to consider before installing solar panels. One big thing to consider is whether installing solar panels will make your house worth more money and attractive to people who might want to buy it later.
Solar panels not only save you money on your energy bills, but they also show that you care about the environment.
But remember, where your house is located, how big the solar panels are, where they’re placed, and how well they’re installed all affect how much they’ll add to your house’s value.
Before you decide to get solar panels, it’s a good idea to research and talk to experts to ensure it’s the right choice for your house.
Average Solar Price in Australia
| 3kW | 4kW | 5kW | 6kW | 7kW | 10kW | |
| Adelaide, SA | $3,760 | $4,060 | $4,820 | $5,510 | $6,490 | $9,570 |
| Brisbane, QLD | $3,810 | $4,440 | $4,890 | $5,530 | $6,190 | $9,270 |
| Canberra, ACT | $4,700 | $4,900 | $5,170 | $5,840 | $6,840 | $8,910 |
| Darwin, NT | $5,300 | $7,210 | $8,240 | $9,920 | $11,270 | $14,060 |
| Hobart, TAS | $5,020 | $5,650 | $6,280 | $7,000 | $7,930 | $11,890 |
| Melbourne, VIC | $4,100 | $4,360 | $4,950 | $5,330 | $6,370 | $8,430 |
| Sydney, NSW | $3,970 | $4,300 | $4,760 | $4,970 | $6,140 | $8,250 |
| Perth, WA | $3,370 | $3,890 | $4,210 | $5,380 | $5,950 | $9,760 |
| All | $4,250 | $4,850 | $5,420 | $6,190 | $7,150 | $10,020 |
Start Your Solar Journey With Solar Emporium
At Solar Emporium, we’ve created different solar packages tailored to your specific needs. Quality is important to us more than anything else.
We’re proud to say we have more than 300,000 happy customers in New South Wales and Victoria.
Our installations are top-notch, and we’re dedicated to providing excellent service even after installation.
At Solar Emporium, our customers come first. That’s why we prioritise ensuring our customers are satisfied rather than just being the most significant solar seller.
We offer a free solar quote for solar panels, batteries, and inverters so you can easily choose the renewable energy products you want and increase the value of your property.
