Are you wondering how do solar panels increase the value of your property? Solar power has emerged as a popular alternative source of energy to the traditional grid power. Over the years, people have realised that the savings and benefits of installing a solar power system at home can generate huge positive returns on investment in the long run.
And this realisation has led to the rise in the value of properties that have solar panels installed.
It has been found that the homes fitted with a solar panel system are valued or sold at a higher price compared to similar homes without it.
Let’s check the factors that can determine how having a solar power system can increase the value of your property.
Factors influencing the property value
- Your location
- The size of your home
- The cost of electricity in the area
- The age, type, and quality of the panels
Now, let us find how these factors will help to increase the value of your property.
The location of your home can determine how much value would be increased by having solar panels.
For example, installation in areas that have active solar markets such as Hunter Valley, Gagebrook, Maitland, Newcastle, Lake Macquarie, and Port Stephens typically yield much higher returns than the comparable installations in other markets as the residents, appraisers, and realtors of these regions are more familiar with the benefits of having solar power at home.
The size of your home
The size of your home versus the size of the solar power system installed can determine by how much it will help to increase the property value.
The number of panels your roof would accommodate or has installed can affect the property value. If you have a large number of panels installed on your roof, it will obviously help generate more electricity and allow the buyer to enjoy higher cost savings on electricity bills.
Also, the energy generation capacity of the panels needs to be sufficient for your house. Hence, those with a larger house need to install more panels to meet the higher energy demands or have a substantial increase in property value.
Our solar power experts at Sunface Solar will guide you about the optimum number of solar panels you will need depending on the size of your home. Having solar power installed on your roof will increase your property value and help you find buyers with ease.
The cost of electricity in the area
If you stay in areas where the cost of electricity is already higher, having a solar power system can be a great way to increase the value of your property. Any buyer would prefer to rent or purchase a house that will allow him to avoid paying huge electricity bills.
Installing a solar power system would give the buyer that facility and so, they wouldn’t mind paying more for your property.
The quality of solar panels
The quality of solar panels is another factor to consider when it comes to determining by how much a solar power system will increase the property value.
Having panels that incorporate advanced technology can ensure higher returns in terms of savings on electricity bills. The quantity, lifespan, and warranty of the panels also need to be considered.
You can contact our solar energy experts at Sunface Solar to find the best solar panels having better durability and longer warranty period. Installing the best solar panels will ensure the longevity of your solar power system to the prospective buyers and they would prefer to invest in your property than any other without a solar power system.
Don’t settle for average solar systems. High quality solar panels increase the value of your property.
Solar Panels Increase the Value of Your Property, Install Yours Today
If you plan to sell or rent your home, it would be worth to get a solar power system installed. You can mention in the advertisement that your house is solar power-enabled to attract buyers.
You can get in touch with our solar power experts at Sunface Solar to learn more about solar power installation and the best ways to maximise energy production all of which will help increase your property value substantially.