The value of homes housing solar power systems has shown to increase by a national average of around $23,000 compared to houses without, as stated as part of a new report from Cotality.
The recent Watt’s it Worth: Quantifying the value of solar and energy efficiency ratings in real estate has found that homes with solar panel systems are valued at about 2.7 per cent more than comparable homes without.
Energy performance has emerged as a key aspect in how properties are being appraised, financed and sold. This also comes amidst increased consumer awareness around the benefits of energy efficient technologies.
More than six million homes were analysed during the development of the report, which was developed in collaboration with Proptech Australia.
The report also details how solar uptake varies across the country. Nationally, 29 per cent of houses have rooftop solar systems installed. Coverage exceeds 40 per cent in cities like Perth, Adelaide and Brisbane, while Hobart, Regional Victoria and Regional Tasmania fall below 20 per cent.
Among these regions, the study found a consistent price premium associated with the presence of solar power systems, a highly visible and widely adopted home upgrade.
Regionally, the impact varies significantly, with the highest percentage uplift seen in Regional Northern Territory at 6.9 per cent, or about $31,350. In dollar terms, the uplift for a home with solar ranged from $14,093 in Adelaide to $30,459 in Hobart, reflecting buyer demand for energy-saving features.