Do Solar Panels Increase Home Value?

If you live in West Australia you will agree that we live in the sunniest state with over 3000 daylight hours on an average per year. So why not make use of this abundant source of energy?

When buying or selling a property you will look at aspects like, rates, strata fees, mortgage and even energy costs which may or may not increase based on the size of the property, your individual usage and changing circumstances. By reducing the major household cost of electricity, you can make a potential sale or rental that much more attractive.

Installing solar panels in Perth, or anywhere in Australia is a no brainer. It’s an investment that you would want to make if you want future savings as solar panels pay themselves off in the long run and provide you with affordable, clean and renewable energy for years to come.

Solar Panels effect on home value

There are studies linking solar panels to increasing home values of properties. The Appraisal Journal cited researchers Ruth Johnson and David Kaserman who report, “Home value increases of about $20 for every dollar saved on annual energy costs”. 

So for examples if you the saving after solar per month are about $200, then you could expect the value of your solar home to be worth $48,000 more than it was previously ($200 X 12 Months X 20 yrs = $48,000)

Generally, Australian believe that homes with solar are more valuable than the equivalent house without.

Based on a survey conducted by Origin Energy of 1,005 Australians aged between 18-79 from all States and Territories in 2018, it was found that 77% of Australians think a house with solar is more valuable than those relying on traditional energy sources. 

With 57% of homeowners saying they would pay up to $10,000 more for a home equipped with solar, and 60% would pay at least that much more for a home with both solar and a battery wall.

It’s not only good news for owner-occupiers , with 55% of renters saying they would be willing to pay up to $10 a week more in rent for a property with solar.

The survey also looked at the adoption of solar in Australian homes – revealing that while only 20% of people currently have solar panels installed, 57% plan to have a solar battery installed within the next 5 years.

So if you are considering installing solar panels and also contemplating a move in the next few years, do it. Not only will you start saving on your energy bills while you are still living in the house, when it comes to selling your home, you can expect your home to sell faster and also the solar installation cost to be more than recouped in full.

If you want to make the switch to Green energy and are looking to invest in the sleek smart money saving and green option, then have a chat with our Solar Experts now and see how much saving can you put back in your pocket. We can help design a solar system suited to your budget and based on your energy usage and home.

All research figures and tables from Origin Good Energy Report – April 2018Renew Economy “Two Australian households now have rooftop solar and they vote

$2499* Monthly Special for 5kw Inverter with 6.6kw Panels.