Are you looking for an investment in a Solar Power system for your home but unsure of your decision? Well, many people get into confusion. They think that the investment is quite hefty, and they may not get a sufficient return in case they decide to sell the house.
If you put the house for sale in the property market, then it could be a massive tussle until you sell it finally. But, it will be a great surprise to you to know that a house with a solar power system creates a good sweet spot for property buyers. Studies have shown that homes with solar panels get sold twice faster than homes without solar panels.
Potential customers see it as a great thing. Hence, it is a good deal to spend on a solar power system on your rooftop.
No wonder, it is an obvious choice with the increasing emphasis on renewable energy sources. Since Australia is a fortunate country where there are many days in the year with bright sunshine, the potential of generating energy is also high.
But how much value can Solar Power system add to your property?
Let’s understand it a bit.
How much value does it add?
Obviously, there is no direct arithmetic as such, but a few assumptions can be made on the basis of available statistics.
Today, home buyers are increasingly looking for energy-efficient homes because the cost of power is going up. The Real Estate Survey of Australia found that over 85% of people think that solar panels add value to their property.
Studies say that for each 1Kw of Solar Power installed, the value of your home may increase up to 6000$. For example, a 5kw installation can increase the property value by $30,000. In general, solar panels can add up to 3-4% to your home’s value. So, a house worth 300,000 dollars can see a price hike of 10,000 dollars to 12,000 dollars.
The size of the installation influences the value addition. The more panels you install, the greater will be the increase in the value of your property. Therefore, installing solar panels is profitable in the long run.
In short, it is a wise decision to install a solar panel. Various companies are coming into the market every year. You have to be vigilant while choosing a solar panel installation company. You have to see the track record and market reputation.
