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The savings from solar are very compelling on their own, but there are many who don’t want to invest because they may not be planning to stay in the home for very long. It’s a reasonable concern given the average time spent in a house is now just over five years. But a new paper shows that solar can be a good investment when it comes to house prices.
We have heard plenty of anecdotal evidence that solar has this effect, but the paper by Chad Harland and Yvonne Matthews called Power in the Pitch has put a number on it.
“Results show that solar homes are marketed through lifestyle, rural and quality cues rather than explicit sustainability framing, suggesting that PV is bundled with broader amenity signals rather than positioned as a distinct attribute. PV-equipped homes command an average sale price premium of 1.34%, with no significant difference in days on market. Effects do not vary with solar irradiance or local solar penetration, indicating limited salience of site-specific energy benefits in buyer decision-making.”
As Kristy Hoare from MySolarQuotes wrote:
“On a $900,000 home that’s over $12,000 - approximately the initial cost of a 6kW system. And that’s before you factor in the power savings while you’re living there. This matters for the solar industry because we hear this all the time: 'I’m not planning to stay here long-term, so what’s the point of going solar?' If solar is a capital improvement, not just a bill saver, that objection starts to fall apart.”
Getting the government off our roof and in favour of plug-in solar; new research from ChargeNet shows EV interest rising rapidly and Rewiring modelling shows a potential $75 a week saving with a new EV; OECD lays out the issues for New Zealand's energy system and compares our electricity prices; BYD rolls out its flash charging network outside of China and looks to launch in New Zealand, while Tesla finally launches its semi truck; Nat Bullard's energy analysis; and a video of a world-first in the Rotorua forest.
Read moreDownloadCarys Trotter covers the Ministry of Regulation's announcement at Mike Casey's all-electric orchard yesterday. And as Casey told her: ‘‘This is the first time I’ve seen Wellington people move fast for something that’s actually going to benefit the people of New Zealand.’’
Read moreDownloadRNZ covers the Government announcement about solar installs and talks to solar installer Tim Dudek, who talks about how long it currently takes, massive growth in demand, the potential for plug-in solar and the need for low-interest finance. "I would say an installation takes between a month and two months from whoa to go. There are a couple of tickboxes that need to be done with the various lines companies and retailers, electricians and inspectors, but it's just part of any electrical job, no different to a switchboard or a heat pump installation." That's what this review could improve.
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