Most people want to do their bit to slow down climate change and the devastating impact of our emissions on the environment. But it’s taken us a while to understand what changes will help, and for our government and building industry to come to the party.

Switching to solar power is one obvious solution that not only helps the environment but offers enticing financial incentives as well.

Why go solar?

One of the most obvious ways to reduce our use of fossil fuels is by switching to clean energy. Australia has the highest solar radiation in the world at 58m petajoules per year, so it makes sense for us to maximise the benefits of this abundant natural commodity. Furthermore, not only is it renewable, solar power has the potential to run our homes for substantially less than traditional energy sources. 

As we discovered recently, energy efficiency inclusions are one of the homebuyers' most wanted property features in 2024.

But how does solar energy work?

First of all, let's get the science out of the way.

According to Energy.gov, solar energy works like this: "When the sun shines onto a solar panel, energy from the sunlight is absorbed by the PV cells in the panel. This energy creates electrical charges that move in response to an internal electrical field in the cell, causing electricity to flow."

Simple!

For Australians feeling the pinch, solar energy is one solution

The increased efficiency and the drop in the cost of switching to solar power couldn't have come at a better time. Many of us are feeling the pinch from interest rate rises and the increased cost of living and we're looking for ways to save money. Although in the past the main arguments against solar energy were the setup costs and the time it took for homeowners to recoup their investment, the government's pledge to meet net zero by 2050 has forced it to issue incentives and rebates that make it more accessible. 

“Government initiatives such as the Australian Renewable Energy Target (RET) are helping to drive investment in renewable energy infrastructure and make solar power more attractive from both an environmental and financial standpoint. By supporting incentives for people to install solar panels and battery storage, the RET helps to bring down the cost of solar power even further.” Platinum Solar Group

Solar power is now a possibility if not a responsibility for many more Aussie homeowners

Solar energy runs pretty much everything in our homes, from our hot water systems, heating, and cooling systems - it is one of the most sustainable ways to cool down your home - to appliances and lighting. It can even heat your pool.

But how does it work?

Any major renovation decision requires good research, so to get you started, we’ve answered below some preliminary questions about switching to solar energy:

1. How do I work out my current energy consumption? According to the NSW government website, there are three ways to work out how much energy you use. The first is to use an energy rating calculator, the second is to a plug-in meter or monitor - available at most home improvement stores - and the third is to look at your electricity bill which offers a comparison to other households.
2. What does a solar package cost to install? According to Choice, “Prices have fallen by around 58% in the last six years,” but as a rough guide, the 6.6kW systems will cost between $5000 and $10,000 (inclusive of subsidies), depending on your location and specifications.
3. What government incentives or rebates are available to help fund my solar package? According to the Clean Energy Council, on a national level, “The Small-scale Renewable Energy Scheme (SRES) provides a financial incentive for individuals and businesses to install small-scale renewable energy systems such as rooftop solar, solar water heaters and heat pumps.” Added to this are feed-in tariffs, whereby you are paid for any electricity generated by your rooftop solar system that is fed back into the grid.
4. What types of solar panels are available? There are two main types in Australia – monocrystalline and polycrystalline. Both are efficient and reliable, so what you need to consider is the warranty and quality of your installation which may affect your output. The most common in Australia is the 6.6kW system which requires seventeen panels.
5. What compliance is required? This varies from state to state but this checklist from the NSW Fair Trading website is useful. Key takeaways are that systems must comply with Australian Standards, and a Certificate of Compliance for Electrical Work (CCEW) is required once the installation is finalised.
6. What is net metering? Solar Emporium explains net metering in the following way: “Net metering involves using a meter that can count in both directions. Individuals only pay for the net energy they consume. If consumers generate more power than they use, they receive credit for the excess at predetermined rates and conditions.”
7. Will I require a site evaluation? Yes, because the success of solar is dependent on several factors such as location, size and pitch of the roof of your property and the way your roof faces and shade.
8. How long will it take me to pay off the installation costs? According to Choice, “Broadly, a 6.6kW solar system on most Australian homes will take between three and five years to pay for itself.”
9. Will my system require a lot of maintenance? Typically, this includes cleaning any build-up of dust and debris from the panels, as well as checking connections on all components of the system. An annual inspection is recommended.
10. Will I need a battery backup? If your property relies solely on solar, a backup battery will help you store energy for future use. However, not all of them provide power during a grid outage because standard solar systems also switch off. They will only provide power if the battery offers backup power, which is useful in remote areas and those prone to extreme weather events.
11. Will installing solar increase the value of my home? With professional installation and ongoing maintenance, solar energy will increase the value of your home for all the reasons we’ve mentioned in this post.

We are Australia's leader in off-market property for a reason

We are Australia’s leading place for pre-market, off-market and secret listings for a reason: because we care about our members. One of the parts of the service we pride ourselves on is our up-to-date property advice, be it about energy or which provider to use, bank loans, or even interior design and property styling advice.

Ultimately, our goal is to provide a value-for-money service that saves our members money, time and unnecessary stress and our professional, expert advice guarantees that promise. By choosing to buy off-market, they are halfway there. 

Sign up TODAY for FREE for INSTANT access to our impressive hub of off-market listings. Need more support? For a small fee, discover the added benefits of our Buyer Assist service which provides all the assistance you need to buy for less.