Homeowners who install solar panels on their roof are often surprised at how much they can save on their electricity bill. But did you know that homeowners with solar panels installed on their roof also tend to get higher prices for their homes?
Homes in Australia with solar panels installed are selling for more than those without them, according to new research from real estate site Domain. The study found that a house with energy-efficient features fetches $125,000 more than a house without, according to the report, and energy-efficient units fetch $72,750 more than a unit that isn’t.
And the premium buyers are prepared to pay for energy-efficient features is increasing.
Solar Panels on the Sunshine Coast
Solar power has become much cheaper over the last decade, and now homeowners can install their own system at little or no cost with government rebates and incentives – not to mention the energy bill savings and feed in tariffs!
Choosing a solar installer can be daunting, and we know it’s a very confusing space having personally spoken to many solar installation companies. This seems to further confuse things with so many different options, opinions, and proposal numbers.
One local company we trusted with our business was SALT Solar in Noosa. The owner Tony took any doubt away as he demystified and cut through all the murky waters we had previously crossed when speaking with other solar companies providing ‘too good to be true’ offers. One thing we particularly liked was that he is a solar qualified electrician himself, and guided us through the process with a “no-salesperson” style and honest approach… unlike the other companies we spoke to. He called us back after our enquiry and was at our home within 15 minutes which was hugely unexpected. The proposal numbers were all different and he took the time to talk us through the numbers and why they were different.
Energy efficient examples around the home
A well-designed energy efficient home can help you save energy and money. It is a broad concept that covers many different aspects of the creation and usage of energy. Homes that get lots of natural light, use eco-friendly appliances, and have greener areas throughout can save energy. A higher efficiency is achieved by using less energy to perform the same task.
- A south-facing home requires triple the energy for heating and cooling than a north-facing one.
- Roof and ceiling insulation can save up to 45% on heating and cooling.
- Wall insulation can save around 15% on heating and cooling.
- Sealing gaps around windows and doors can save 5-15% on heating and cooling.
- A house built with a 7-Star energy rating will save on average $450 per year on heating and cooling compared to a 6-Star energy rating.
- It is the equivalent of taking one car off the road for a year for every new home built to 7 Stars compared to 6 Stars.
Buyers looking for sustainable and cost effective features
Buyers are naturally gravitating towards homes with sustainable features, simply because they’re more liveable and cost effective or energy positive.
Sustainable homes are not only homes with solar energy and a good solar design, but also think of innovative features and eco-friendly features including battery systems and battery storage, water tanks, water efficient options, double glazing, insulation, ventilation and many others.
In the past we’ve all heard of that selling point ‘North facing’ and this really quantifies that with some science and people are now more attuned to this in the market. These are the features every buyer needs to be looking for – where does the sun influence the house. If people are clever and clued on, no matter what their budget is, they can get solar passive benefits – remembering it’s not about being a ‘smart home’, it’s about being an efficient home.
Find out how Jones Financial Group can help you secure finance for solar panels or energy efficient renovations. Get in touch today!