Energy experts project that South Africa’s electricity crisis will continue to plague us for the foreseeable future. With an unpredictable energy supply and an upswing in the green movement, people are considering a number of options to lower their energy costs. In some cases, people are looking to get off the grid altogether.
So, Will Solar Help You Sell?
Solar panels stand out as one of the most popular choices for generating your own power and are an investment in your property. Here are 5 things to consider when deciding whether to go solar:
- Solar panels do initially require a large capital outlay. A system that can provide enough power to run most of the appliances, not including the geyser and heaters, in a large house will cost you in the region of R230 000.
- To take that same large home completely off the grid with panels that track the sun for optimum yield and increased power capacity plus LED lights, will set you back about R350 000.
- Many homeowners go for the ‘grid-tied system’ where they use a combination of power from the solar panels and Eskom. At a costing of between R120 000 and R150 000, this system is an affordable compromise for the average South African consumer. Costs typically include the panels, batteries, inverters, cabling and installation. Replacement batteries are not included and are included in your long-term costing.
- Residential-sized solar panels can produce power at under a rand per kilowatt-hour. This cost factors in financing at the prime lending rate of 9.5%. Compare that with the R1,75 you are paying Eskom per kilowatt-hour.
- According to the National Energy Regulator (Nersa), consumers are catching on to the solar trend, not only for potential savings but because it represents an investment in your property.
With the consumer driven move towards renewable energy, a solar power system directly increases the value of your property, offsetting the initial outlay. It can even help you sell your property faster.
New Building Regulations
Under the latest national building standards and the Department of Energy’s regulations, it is compulsory for all new buildings to be designed and constructed to minimise its functional energy requirements. This includes being fitted with renewable energy water-heating systems such as solar powered geysers.
In the long-term, it makes sense to invest in such a system as there may come a time when you will not be able to sell your home without solar systems in place.
You can expect to pay off a solar power system in five to eight years. With the system having an average lifespan of 40 years, you can look forward to many years of saving on energy costs.
If you do decide to sell, consider that a considerable number of surveys conducted both internationally and here in South Africa have shown that the inclusion of a solar power system definitely adds selling power to your property.