Will solar increase the value of your property? Solargain National Sales Manager Mark Stevens explains in the article, 'Sage advice to ensure savings with solar' by Owen Raymond in the weekend's edition of West Real Estate, that the right choice of solar system could increase the value of a home in a number of ways - and that it was important to choose a reputable company. To find out which solar package best suits your property - whether you are a homeowner or investor - give us a call or make an enquiry using the form.
The full text from the article is below;
Sage advice for saving with solar
By Owen Raymond
West Real Estate | 29th April 2023
As communities become increasingly conscious
of the environmental impact of traditional
energy sources, and look to save on the cost of
living, the demand for residential solar power
continues to rise.
But just how prevalent is the switch to solar
in the market, and how is it aff ecting property
prices?
According to The Agency Perth and Team Trolio
Property Partner Luke Trolio, buyers with a
preference for properties utilising solar energy
are becoming more common.
“Th ere is a large proportion of potential buyers
who query whether or not the property they are
enquiring on has solar installed,” Mr Trolio said.
“It is common to hear this question being asked
and it reinforces the trajectory of the market in
terms of becoming more eco-friendly.
“Th ere lies an intrinsic value for homes with
solar installation by way of attracting a larger
buyer network and, of course, providing
potential cost savings and adding value.
“It’s difficult to place a monetary figure on
just how much added value there is but, by
way of expanding the buyer network, you can
potentially add thousands to the final sale price.”
Mr Trolio said he expected demand for solar-capable
properties to continue to increase in the
long term.
Solargain National Sales Manager Mark Stevens
said the right choice of solar system could
increase the value of a home in a number of ways.
“It’s safe to say that a good-quality, decent sized
system will, most definitely, add value to your
home,” he said.
“According to the 2022 Property Seeker Report
by realestate.com.au, 81 per cent of homebuyers
consider sustainable features in a property to be
critical or important in their decision-making,
with 87 per cent of would-be buyers willing to
pay extra for a home with green features – from
solar panels and battery storage to efficient
insulation.”
According to Mr Stevens, solar can also be a
profit-raising inclusion for investors.
“There’s even value in installing solar on an
investment property,” he said. “Fifty-five per cent
of renters say they would pay up to $10 a week
more in rent for a property with solar.”
Mr Stevens said the level of energy savings varied
from home to home.
“The savings a solar system delivers depends on
how much solar power is consumed by the home
versus how much excess solar is sold to the grid,”
he said.
“For example, an average family home with a
6.6-kilowatt system may only use about 35 per
cent of the 28-kilowatt per hour solar energy
generated each day.
“Despite the low solar feed-in tariff , the annual
savings achieved would be around $1240 per year
– most of which is from avoided energy costs.”
Mr Stevens said it was important to be wary of
low-quality or poorly installed systems and to
ensure you were dealing with reputable solar
companies, which had been certified as New
Energy Tech Approved Sellers.
“While investing in solar is widely accepted
as one of the most sensible investments a
homeowner can make, just be sure to do your
research and choose your solar provider wisely,”
he said.
