Do solar panels increase home value?
Yes. You can improve your home value by up to $10,000 dollars if you install solar panels. A survey conducted in 2018 on 10,000 people found that 77% of Australians think that having solar panels add value to a house, and more than half of Australians say they would pay up to $10,000 more for a home with solar power installed.
Can I increase the value of the rent on my house if I install solar panels?
Yes. According to the same survey, 55% of Australian renters say that they would pay at least $10 more per week for a house with solar panels.
So, is solar a great investment?
Installing solar panels is an excellent investment if you’re looking to improve the value of your home or increase the rent, and is very affordable.
For example if you’re planning on living in your home for another few years and then sell it, you could install solar now, benefit from the government rebates and have your system pay for itself by reducing your current energy bill, and then once you sell get an extra $10,000 on the sale!
In comparison, renovating the kitchen or the bathroom which is another great way to improve the value of your home, costs on average about $15,000. The main difference here being that a new kitchen and bathroom will not save you thousands of dollars a year while you live at the house.
Here are some links worth checking out: