If you’re one of the many Victorians who got a shock (pardon the pun) the last time you received your electricity bill, you won’t be surprised to know that adding solar power has become one of the most popular home improvements among homeowners in our state.
In fact, despite the impact of various lockdowns, the sale of household solar units in Australia increased by around 40 per cent between 2019 and 2020 alone. The latest figures indicate that around 21 per cent of all Australian home have installed photovoltaic (PV) panels, and industry experts believe that this number will continue to grow as the technology around battery storage continues to develop.
If you are one of the many currently considering adding solar power, keep in mind that choosing the right solar system and storage solution for your property is not simple. The range of product options is substantial, while each state and territory has its own incentives and subsidies.
Some of the factors you’ll need to consider include:
Work out your own goals. Every home and every family is different, so make sure you are clear on whether you simply want to reduce your power bill, or to power your entire house while putting the excess power back into the grid.
Not all panels are the same. When selecting the best panel for your property, you need to consider whether your roof faces north, and whether it gets full sunlight or is in shade part of the day.
Don’t underestimate the inverter. Inverters are an essential element of any solar power system, as they convert the direct current from your panels into the alternating current that your house runs on. There are three main types of inverter available; string, micro and hybrid inverters; and your choice will again depend on the orientation of your roof.
Are you covered? It’s amazing how many people add solar power to their property, then forget to advise their insurance company so that the system is covered. That’s an expensive mistake if a big storm is on the horizon.
What’s your plan? If you are considering adding solar power to your property to make it more appealing to buyers, there’s every chance you won’t get your money back in the near term. Solar power is a long term investment, if you are considering selling, talk to one of the team at Ian Reid Buyer and Vendor Advocates first. You can call us for objective and obligation-free advice on 9430 0000 at any time.
You’ll also find lots of helpful tips on selling your property in our free booklet, “Fatal Real Estate Traps Exposed”, so feel free to download a copy while you’re here.