Bright ideas for your solar power home solution
Category General News
Did you know? South Africa saw a 40% increase in load shedding in 2022. With rising energy prices and the looming threat of stage 8 load shedding, South African homeowners are feeling the pressure to find a reliable and sustainable power source. But fear not, because the answer is right above your head - the sun! Switching to solar energy can help keep your lights on and your energy bills low. However, it also has the potential to boost the value of your home. Here's our insight on a solar power home solution and advice on getting started.
The appeal of solar power for your property
In a buyer's market, even the most well-priced and attractive homes can sit on the market longer than they would in the face of tough competition. Adding a solar PV installation to your home could be a great selling point to help set yourself apart. As consumers are recognising the importance of sustainable living, solar energy has become a great way to stay green and reduce one's carbon footprint. While no one can deny the benefit of having an uninterrupted electricity supply, this becomes all the more important if you're working from home and need to stay connected.
There's also potential for homeowners to add to the value of their homes. Ooba, the home loan expert, cites studies that estimate a bump of 3 to 4%. However, the reality can be a lot more complex and some say it can actually be up to an 8% increase. Here are factors impacting the value a solar solution can add to your home:
- Your installation size: Depending on the number of panels you install, this impacts how much electricity you produce and will save on.
- Your installation quality: This has an impact on how long they last.
- Your installation's warranty: This will ensure they are guaranteed to last for a long time.
- Your property's location: Your area's weather patterns and layout will impact how much sun you get. Rainy conditions or perpetual shade from a mountain backdrop, for example, will reduce the efficiency of your solar panels.
When considering adding solar panels, consider the price you'll pay as this could offset any savings on electricity (the convenience factor excluded). Thankfully, there are some good financing options available such as rent-to-buy or bank financing that lets you add the cost into your home loan payments. New solar tax incentives also allow you to claim a rebate to the value of 25% of the cost of new and unused solar photovoltaic (PV) panels, up to a maximum of R15 000 per individual. This can make adding solar power to your home more viable.
Tips for installing solar panels at home
As setting up a solar panel installation can be daunting, here is some advice to get you started.
Evaluate your energy needs: You should have a look at your monthly electrical bill to see what your household's annual electrical energy consumption is. This will give you an idea of how you'll need to invest in solar.
Map your roof: By measuring the parameters of your roof, you can identify how many solar panels you can add. Even though you may not be able to fill your roof with panels, it will give you an idea of how many you can add and give you a ballpark figure.
Consider your location: As weather and shade can impact the efficiency of your solar panels, you'll need to think carefully about these factors before you invest in a costly installation. If you live within a homeowners association, you will also need to check regulations to confirm if you can install it and the requirements when doing so.
Get your roof into shape: If you're opting for a rooftop solar PV system, you'll want to repair damaged tiles and signs of rust that could impact your installation. Sort out visible cracks and attend to water damage that could impair the structural integrity of your roof.
Seek a respected service provider: When installing your system, ensure you have partnered with an accredited and recognised provider who will use the best quality materials to ensure your system lasts.
Go with a hybrid solution: This is made up of solar panels, a smart inverter, and a battery. It keeps essential loads on your property on during load shedding, while non-essential loads will be turned off. The benefit is that you can install this in stages and spread out the overall costs.
Get more advice from us
As your local property expert, Kellaprince Properties can advise you when adding solar as a way of boosting your home's value. On the flip side, we can also provide guidance when buying a property with a solar power installation. Get in touch with us today for real estate services you can count on.
Author: Kellaprince Properties