Solar energy systems are becoming increasingly popular as more and more homeowners look to harness the sun’s power to power their homes with the help of installed equipment that includes solar batteries and solar panels. However, according to the solar experts at westsunenergy.com.au, this equipment is not just a way to reduce your carbon footprint; it is also a means of significantly increasing the value of your property.
Solar systems do this in several ways, and in this blog post, we will explore these, including those that affect property prices directly and others that do so indirectly. In doing so, we hope to show those of you looking to boost your property’s value why solar panels are a wise investment.
Lower Electricity Bills = Funds for Home Improvements
One of the most significant benefits of installing solar panels is reducing energy costs. You can lower your monthly electricity bills by generating your electricity, and the savings can add up over time. This reduction in outgoing expenses means more funds are available to finance home improvements which will invariably add value to your property.
Lower Electricity Bills = Keen Buyers Willing To Bid More.
One of the most significant incentives any prospective buyer for your home will have is the knowledge that if they become the purchaser, the solar panels on that home will mean their electricity bills will be lower when they move in. This can mean that not only will you likely have more people willing to bid for your home, but they will also be willing to bid more, and ultimately the bidding ‘war’ that follows can drive up your selling price considerably.
Environmentally Conscious Buyers Will Be Attracted To Your Home
More and more people are becoming environmentally conscious, and homes with solar panels appeal to buyers who prioritise sustainability. By using renewable energy, you are reducing your carbon footprint and minimising your impact on the environment, and this can be an attractive selling point for buyers who are keen to do likewise and, thus, are happy to pay more to live in an eco-friendly home.
Energy Independence Is A Huge Selling Point
By installing a solar energy system, you no longer rely on the grid for your electricity needs. This energy independence can be a significant selling point for buyers concerned about power outages or blackouts. Additionally, having a backup source of electricity can make your home more appealing to potential buyers, who will be happy to increase their bids.
State/Federal Government Solar Energy Incentives
We must caveat this by saying that the incentive levels available to anyone buying your home will depend on what state or city your home is in. Nevertheless, governments at both federal and state levels offer incentives and rebates to homes with solar panels installed.
One example is feed-in tariffs, where a homeowner with a solar energy system can earn money by feeding electricity into the primary grid using the excess energy their solar system generates. Knowing this will undoubtedly induce many bidders to make sure their bid wins by bidding higher to benefit from the incentives available to those with solar panels on their homes.
Low Maintenance Costs
Solar panels require minimal maintenance, an attractive feature for potential buyers. Unlike other home improvements, such as a swimming pool, solar panels do not require much looking after or additional expenses. This low-maintenance feature can be a selling point for buyers instead of anything technical, including having to maintain something. The lower costs of maintaining a solar energy system should also incentivise many buyers.