Will Solar Panels Increase the Value of My Property?

If you decide to Invest in solar panels, we can assure you that it is going to be one of the smartest decisions you can take as a home or business owner in Nigeria.

Considering the higher cost of getting electricity in Nigeria and the constant power outage that means you get less energy than you deserve, we believe solar energy has become the best alternative that you could embrace.

No doubt that solar energy will help reduce how much we pay for Electricity bills as well as give us greater control and security on the kind of electricity we enjoy, but beyond that.

One major question lots of people intending to purchase solar energy Always ask is, Will solar panels Increase the value of my property if I decide to buy? The simple answer to this question is a Yes, If you decide to install solar panels in your property, it is definitely going to significantly increase the value of that property as more buyers as well as tenants will become increasingly interested in buying your property.

We’re going to take a look at the level of impact solar energy can have on the value of your property and why you should be getting one from Arenahub as soon as possible.

 How Do Solar Panels Increase Property Value?

There are so many ways solar panels could increase the overall values of your properties, we’re going to look at them carefully

1. Higher Market Demand for Solar Homes

Most buyers are now looking for homes with solar panels rather than the ones that don’t have it. It’s no hidden secret that in Nigeria, where we all know that electricity is not reliable,a house that has a solar system installed in it is more advantageous than one without.

Because of these, many homebuyers and those looking to rent properties are always looking for properties with solar first as it will mean they are no longer going to rely on Nigeria epileptic power supply or fueling their Generators.

If you instance there are two houses that are available for sale,one has solar and the other doesn’t have solar, the majority of the buyers are definitely going to consider buying the property with solar even if it means them paying more money for it.

2. Reduced Energy Costs Attract Buyers

One of the biggest expenses most Nigerian Landlords and Landlady’s make every month is electricity bills, if they’re not paying high bills to PHCN, they’ll be spending even more money on fueling their Generators, and we know how expensive it is to buy fuel in Nigeria’s current economy.

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With solar panels, you’re Very sure that these bills are significantly going to get reduced. If. you have solar in your property and decides to sell, the buyers will see this as an opportunity to safe cost in the longer run, Most buyers would rather buy a property to has a solar system installed in them already than going through the process themselves, this reason alone can make your property even more appealing

3. Government Incentives and Support

No doubt Nigeria is still in its early developmental state as regards to giving out incentives for those that have solar installed in their properties, However there are some tax breaks as well as funding programs that are encouraging people to go solar.

As solar system continues to grow in Nigeria, we know that one day it will become mainstream energy source in the country and we do expect that more and more government policies that will reward solar adoption is still going to continue coming up, In the near future, Nigeria government may likely adopt tax deduction and energy subsidy for Homes in Nigeria with solar energy.

While Nigeria is still developing its solar energy incentives, there are already tax breaks and funding programs supporting solar adoption.

As solar power becomes more mainstream, we can expect more government policies that reward solar-powered homes, such as property tax reductions and energy subsidies.

If you could Invest in the solar system today through Arenahub, you might be benefiting from these incentives in the near future.

4. Long-Term Investment with Durable Equipment

On an average, most solar panels have a lifespan of about 25 to 30 years, meaning you could solve your Electricity issues in the long term.

Unlike using a generator that you are going to constantly maintain as well as fueling, the Solar System needs little maintenance meaning you are not going to spend much over the long run. So if you have any property that has a solar system which is both durable and has low maintenance, then we can assure you it is a very smart Business and buyers will definitely pay more to get one because they know that the advantages are well worth it.

5. Increased Property Resale Value

According to some studies in different parts of the world, with Africa included, it’s on record that properties and homes that have solar system installations sell very fast and at a higher price than similar properties that do not have solar panels.

Although Real estate in Nigeria is still trying to catch up with this trend, trust us, early adopters are already seeing the numerous benefits of selling properties with solar systems.

Do you even know that a solar powered house in Nigeria has the tendencies of selling for up to 10-20% more than other similar houses that doesn’t have solar panels, What this means in a nutshell is even if you decide to sell your home or property in future, you are still going to recover the money you spent on solar installation, you’ll even make extra money

Does Solar Add Value to Commercial Properties?

Yes, not only your homes, if you happen to own a business or maybe a house for rent, if you decide to install solar systems, It is definitely going to attract more tenants as they know they are not going to spend much on electricity bills while living in a solar powered home. Most Businesses as well as shop owners out there are looking for locations that have constant Electricity, if your property provides that, then kudos to you.