Did you know that solar panels can do more than just cut down your electricity bills—they can actually make your home worth more! Studies show that homes with solar power not only sell for higher prices but also get snapped up faster than those without.
A study published in the Australian Journal of Agricultural and Resource Economics (2021) looked at data from Aussie households and found that for every 1% increase in solar capacity installed, property values went up by about 0.09%. That means the bigger your solar system, the more value it can add to your home—making it a smart investment for your family.
Let’s Look at an Example:
Imagine three similar homes on the same street, all with the same size, location, and features. The only difference is their solar power setup:
- House A with no solar system: Worth $600,000
- House B with a 6kW solar system installed: Worth $632,400 (with a 1% increase in solar capacity translating to a 0.09% rise in value, the property value could increase by approximately 5.4%)
- House C with a 10kW solar system installed: Worth $654,000 (with a larger 10kW system, the value could rise by around 9%)
We all know that solar power can cut electricity bills and future-proof our homes against rising energy costs. But what this example highlights is that solar power can also be a great way to increase the value of your home too, making it more attractive to buyers who want energy savings and sustainability. It’s a win all round!
But what About Rental Properties?
If you’re a landlord, solar panels can be a game-changer. A 2023 study by Rohan Best et al. in Housing Studies found that rental properties with solar systems earned an average of A$19 more per week compared to those without.
On top of that, landlords can recover the cost of installing solar panels within around five years, meaning it’s a solid investment that tenants are happy to pay for—especially as they save on energy bills.
The Bottom Line
Adding solar power to your home is more than just an eco-friendly choice—it can put money in your pocket too. Whether you’re planning to sell or rent, solar panels can boost your home’s value, cut down your energy costs, and make your property more attractive to buyers and tenants alike. With energy-efficient homes in high demand, there’s never been a better time to invest in solar.
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