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Do solar panels increase property value?

How does solar energy affect the value of your home?

An independent report by EMP Group in the US found that ‘home buyers consistently have been willing to pay more for a property with PV solar panels and infrastructure’, and we have found this to be the case across New Zealand as well.

A solar energy system is a modern, forward-thinking addition to a house, and while many homeowners are interested in powering their home with solar electricity, fewer are prepared to do the administration and research to make it happen. A pre-installed solar system is a huge bonus that promises reduced power bills for these buyers and the sense that their new home is future-proofed.

How much does a solar energy system boost the value of your property?

Some experts have estimated that home value increases around $20 for every $1 reduction in your utility bills. In other words, if your solar energy system saves you as little as $400 per year in electricity, you could be adding a whopping $8,000 in value to your home! Sounds like a no-brainer to us!

Other research done in Australia estimates an increase in home value of around $6,500NZD per kilowatt of solar energy. This means a rise of over $30,000 in the retail value of your home for a 5kW system! You can read more about which system capacity is best suited to your home here.

Solar energy earns you money upon selling, but it also saves you money in the meantime.

Don’t forget that regardless of the ROI of solar panels when you sell your property, you will be saving money on your power bill while you live there. Solar panels are a worthwhile investment for both value-added and the opportunity for you to utilise cleaner, cheaper energy.

It is likely that the price of electricity will rise in New Zealand over the next few years, so a solar energy system will save you even more money in future.

Get a quote for solar panels in New Zealand

Our solar energy system experts are happy to answer any questions you may have about solar panels and their effect on the value of your property. The Harrisons Solar team will visit your property to give you an accurate quote and discuss your solar energy needs in person! Contact us to book a free at-home consultation.

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