Thanks to our sunny climate, we’re experiencing a surge in residents opting to make the move to solar panels. Beyond the environmental and financial benefits, more homeowners are strategically embracing solar power due to its positive impact on property resale value. In this blog, we’ll outline the well-known benefits of switching to green energy before deep diving into the property resale potential solar panels can deliver.
The four common benefits of owning solar panels
Home value and solar panels often go hand in hand, but there are a few other major solar panel incentives homeowners can experience once they switch to solar. Below, we’ve outlined four benefits of owning residential solar panels.
Reduced energy bill
One of the most appealing benefits of owning solar panels is the significant reduction in energy bills. By generating their own electricity, homeowners can offset or even eliminate their reliance on the grid. As solar panels harness the power of the sun to produce clean and renewable energy, the generated electricity can be used to power various household appliances and systems. As a result, homeowners see a noticeable decrease in their monthly energy expenses, saving money in the long run.
Reduced reliance on the grid
Solar panels provide homeowners with a degree of energy independence. By producing their own electricity, homeowners become less reliant on the nation’s power grid. This is particularly valuable during power outages or emergencies when grid electricity is unavailable. And with a properly designed solar system and a battery storage solution, homeowners can maintain access to electricity even when the grid is down, ensuring a consistent power supply for essential appliances and devices.
Contribution to sustainability
Solar panels are a clean and renewable energy source, helping reduce carbon emissions and combat climate change. Traditional electricity generation relies heavily on fossil fuels, which emit greenhouse gases into the atmosphere. By investing in solar energy, homeowners can significantly reduce their carbon footprint and contribute to a greener environment. Solar power systems produce electricity without producing harmful emissions, helping to mitigate climate change and promote sustainability.
Flexibility with surplus energy use
Solar panels allow homeowners to store excess energy for later use and interact with the grid. During periods of high sunlight and when the energy generated by solar panels exceeds the immediate consumption needs of the home, the surplus energy can be stored in batteries or fed back into the grid.
Energy storage systems, such as batteries, allow homeowners to store the excess solar energy and use it when the panels are not generating electricity, such as at night. This maximises the utilisation of solar energy and further reduces reliance on the grid. In some regions, homeowners can also take advantage of feed-in tariffs, selling the surplus energy back to the grid, earning credits for the excess electricity produced.
Real estate and solar panels — what North Queensland homeowners need to know
By now, we’ve learnt that by embracing solar energy, homeowners can enjoy the advantages of sustainable living while also reaping the financial rewards of lower energy costs and reduced reliance on fossil fuels. However, one benefit that homeowners often overlook is the resale potential with solar panels.
Several studies have shown that homes with solar panels command higher selling prices and sell faster than their non-solar counterparts. A recent survey found that 57% of Australian households would be willing to pay up to $10,000 more for a property they were interested in with solar panels. That amount increased even more when battery storage was added into the mix.
This is because potential buyers see solar-powered homes as desirable due to the immediate financial benefits they offer. The environmental appeal and sustainability factor associated with solar panels have gained considerable traction among eco-conscious homebuyers, prompting them to pay top dollar to contribute to a sustainable future.
Many regions also offer energy efficiency certifications and incentives, such as green building certifications or tax credits, that further promote the installation of solar panels. And, the unpredictability of future energy costs has driven homebuyers to seek alternative energy sources. Solar panels provide a stable and predictable energy solution, shielding homeowners from the impact of fluctuating energy prices.
Choose Green Energy Technologies for your solar panel installation
More and more households are recognising the positive correlation between solar panel installations and home equity, capitalising on the financial and environmental benefits and resale potential. If you’re looking to join the community of savvy Australians using solar, you’re going to need a certified solar panel installer.
Green Energy Technologies is a leading solar panel installation company servicing households across Australia. With our GET360 package, you can say hello to a cleaner electricity source and lower energy bills. We’ll manage everything from your solar panel and battery installation to ongoing maintenance for your system.
Find out how we can help you make the transition to renewable energy with our GET360 energy solution by contacting us today for a quote.
What happens to solar panels if I decide to sell my home?
When you sell your home, the ownership of the solar panels can be transferred to the new homeowner. This is typically done through a legal agreement or transfer of equipment. The specifics of the transfer process can vary depending on local regulations and the terms of the original installation contract.
How long does it take to recover the investment in solar panels?
The time it takes to recover the investment in solar panels, often called the payback period, can vary depending on several factors. Typically, the payback period ranges from 3 to 5 years; however, this can depend on your energy consumption, generation volume and if you’ve utilised any government incentives.
Can I finance the installation of solar panels for my home?
Absolutely! As massive fans of all things renewables, nothing makes us happier than introducing a new household to the power of solar panels, which is why we’ve partnered with lender RateSetter to help residents have unrestricted access to solar panels. Successful applicants can receive a personalised interest rate and, if approved, obtain instant conditional approval.