Does a solar system add value to my house?
Installing a solar power system is a capital investment similar to installing a pool, spa, modern kitchen or bathroom. It will add desirability and additional value to your property.
Home buyers today are increasingly looking for homes that are energy efficient. A Real Estate Institute of Australia survey found that over 85% of respondents rated a solar system (without battery storage) would add value to a house. To 78% of those surveyed solar would add $10,000+ to the value of a property. See Real Estate Survey
Correctly marketed, a solar system can add even more value. If you can use solar power to secure just a $250 saving to your quarterly electricity bill, this saving equates to being able to borrow an additional $16,500 (at 4.5%pa over 30 years). This gives you extra fire power with which to bid for a solar powered house compared to other houses of similar size in the same area without solar. The proviso is that your solar system is well branded with bonafide transferable warranty. LG offers a 12 year warranty with full parts/labour/shipment and a 25 year performance guarantee with minimal degradation over time, along with the security that comes from dealing with a Fortune 200 global company with AU$57 billion in revenue.
This savings value will change depending on the size of solar system installed and the amount of solar power used to offset your power bill. LG provides a calculator to help you work out the savings from your system size:
By installing a solar power system, you can increase the efficiency and appeal of your home, and you will also deliver a degree of certainty to yourself and any future owner in terms of energy costs.