The new research published by The Australian Institute states that Rental properties are less likely to have solar PV installations than owner-occupied properties, resulting in higher electricity bills and greenhouse gas emissions. Government programs that coordinate and change the incentives faced by landlords, renters, property managers and solar installers can help address this imbalance. The research is basically based on South Australia State. Installing a solar rooftop is an investment, however, we are always concerned while making an investment if it would be fruitful in the long run.
Does solar actually increase the property value?
Well, according to the research, the owners tend to install solar panels on the property they reside at but they would not like to make a solar investment on the rented property. However, the individuals are ready to pay more rent for a property with solar as that shall reduce their electricity bills. The extra rent that the owners receive can help them receive a return on investment made by investing in the solar system.
Solar is usually believed to increase the property value. However, that has been exaggerated for a long time now. Of course! The buyers tend to pay more for a property with solar on the roof but the property deal depends on various other factors like the location of the property.
The short answer to the question is yes the solar does increase the property value and investing in solar is worth it for your property in the long term if the products are of good quality.
What solar products can I rely on?
With so many products and solar retailers in the market it is difficult to select just the right kind of products and company for your property. However, if you are looking for solar quotes, consider Tier 1 listed CEC approved solar panels and CEC approved inverters. If your solar retailer is CEC accredited and licensed, it simply adds cherry on the top. The Victorian government provides financial incentives up to $1400 and an option of interest free loans even for the rented properties. Take advantage of the rebates before the rebates go down and the prices hike. The Solar Miner team can help you design an efficient solar panel system specifically customized for your property to suit your budget and energy needs.