Do Solar Panels increase the value of a Home?

Do you want to own the most expensive home in your locality? Home reconstruction would amount to a huge investment. But with a few small and moderate investments which do not involve a huge outlay, it can aid you to enhance the value of your home and other properties. One of them is making your home energy efficient by installing Solar panels among the real estate agents.

As per the leading real estate agents in Perth, homes or buildings with solar panel systems carry higher value and are put on the market at prices higher than similar homes in their area.

Studies show that home values amplify by three or four percent or more when homes are equipped with solar panels. For many, solar installation is necessary for cut down in electricity bills along with putting efforts in protecting our environment. But are they really a means to augment the prices of your own house.

Let us find out what makes it valuable for home buyers and how can they enhance the value of their home.

Why is solar energy so valuable?

Energy efficiency benefits are for both your wallet as well as our planet. Energy-efficient features augment a property’s price. In many countries, energy-efficient homes are sold at almost 8 % more prices.

When we talk about solar panels, home buyers give first preference to homes equipped with solar panels. It is quite evident from a survey conducted in 2015 by the National Association of Home Buyers (NAHB) which states that- over 61 % of the respondents gave priority to homes with solar energy.

Solar electrical (electrical services Sanderstead)is either a desirable or a necessary feature in a home people would consider for purchase. Another reason is that they do not have to put in their energy and time to install solar panels or replace them as solar panels usually carry a life of 25 years to 30 years.

By how much does a solar panel adds on to the price of a home?

The value added by a solar panel to your home depends upon various factors written underneath:

Part of the country you live in- urban city, town or a village
Electricity cost in your area
State or condition of your home
Size and the basic price of your home
How old are the solar panels
The energy that your system saves

As per a lab study, each watt of installed solar capacity increases around $3 to the value of a home. A home equipped with solar energy could potentially increase approximately ($3 x 5,000 watts=) $15,000 to the value of a similar home without solar panels.

Other perks of owning a home with solar energy

The real estate agents in Perth acknowledge that the homeowners along with enjoying the enhanced price of the home, can enjoy many other benefits too:

Opting for renewable energy can be a small but important step towards the protection of the planet

One needs not to ignite fossil fuels emitting poisonous gas like carbon dioxide.

Solar panels are a great help in cutting down your electricity bill

After enough cut back on your energy bill, you can wipe away the price of your original investment which can be significantly reduced by central, state and local tax credits. Owning a solar could perhaps become like getting absolutely free electricity for the rest of your life.