select
|

Should you install a solar panel?

As residential electricity tariffs continue to increase and place financial pressure on South African households, many are looking at alternate power sources, such as solar panels, in an attempt to reduce their household electricity consumption.



Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa, says that the more electricity a household uses, the more it is charged per unit of electricity. Because of this, there is a growing trend of households introducing energy-efficient elements to curb their energy usage and overall cost of running the home. “While the concept of ‘green energy’ is not new, the growing cost of electricity has led to consumers becoming more conscious of the energy they use. A study conducted by the National Association of Home Builders (NAHB) revealed that apart from a safe neighbourhood, the factor that influenced home-buying decisions the most was a home’s energy efficiency,” says Goslett.

He notes that elements such as solar panels have become increasingly more popular with the energy-efficient movement gaining momentum. However, Goslett says that there are a few pros and cons that homeowners should consider before they go ahead with adding solar panels to their home:

Pro – Reduce utility bill


It goes without saying that using power generated from the sun will reduce the amount of electricity used from the main power grid, which will reduce the household’s utility bill. In most cases, solar panel systems save between 50% and 75% of an electricity bill. The money saved can go towards paying the solar panels off or other household expenses.

Con – The upfront cost

Even though solar panels have become more affordable over the years, the initial upfront cost of installation can be expensive, and it could take some time for the system to pay itself off – typically around seven years.

Pro – Increases value of the home

Energy-efficient elements add value to a home, and a large percentage of the initial outlay of such elements is recouped when the property is sold. “According to the NAHB, approximately 61% of homebuyers would be prepared to pay an additional R50 000 to R100 000 on a home that had features which would reduce utility costs,” says Goslett.

Con – Won’t work on every roof


There are some roofing materials, particularly in older homes, that make it difficult to install solar panels such as slate tiles. There is also the matter of available space on the roof, many homes have limited clear space to fit the solar panels.

Pro – Reduced carbon footprint

Although going green will save money on utility costs and add value to the home – the financial aspect it is not the only reason. It is also about sustainability and reducing the household’s effect on the environment and its surroundings. Generating energy from fossil fuels emits harmful carbon dioxide and methane which contributes to global warming – using solar panels for power does not. Solar power also doesn’t require water to process, while other energy sources do.

Con – Maintenance


As with all household elements, solar panels require upkeep and maintenance, which come at an additional cost. The solar panels will need to be cleaned, repaired when necessary and insured. 

“For the right home, installing solar panels could provide a sustainable method of reducing both their energy cost and impact on the environment,” Goslett concludes.


  Comment on this Article

  Please login to post comments

Post to my facebook wall
  
2000
Characters remaining


    Latest Property News
    • 21 Nov 2017
      As more and more South Africans look to invest in property abroad, Spain is offering them one of the best deals in global real estate.
    • 20 Nov 2017
      Since 2012, sectional title complexes have been leading the South African property market, not only in terms of price growth, but sales volumes as well. Remaining relatively strong, even in the face of 2017’s political and economic turmoil, experts say this market segment could offer valuable insight into South Africans’ property purchase priorities.
    • 20 Nov 2017
      Regardless of whether you are purchasing your first start-up home, downsizing or moving in with roommates, finding ways to maximise small spaces can be a big advantage, says Adrian Goslett, Regional Director and CEO of RE/MAX of Southern Africa.
    • 20 Nov 2017
      Property valued at approximately R1 billion is on High Street Auctions’ sales floor during the month of November, including the much-anticipated sale of the Tshwane Mayoral Residence and the land occupied by one of South Africa’s oldest operating gold mines.
    • 17 Nov 2017
      FWJK has announced the launch of its latest residential brand, the Lil’ Apple, which will be launched simultaneously in two developments in Cape Town and Umhlanga totaling 600 apartments. The Lil’ Apple is set to be a brand of FWJK’s New York style apartments which will be rolled out nationally.
    • 17 Nov 2017
      It’s been a tumultuous year on many fronts, with socio-political uncertainty setting the tone for much of South Africa’s economic activity yet despite this and seemingly counter-intuitively, the residential property market has held up well.
    • 17 Nov 2017
      The EAAB (the Estate Agency Affairs Board) recently claimed that around 50,000 illegal estate agents could currently be operating illegally.
    • 16 Nov 2017
      Penthouses are synonymous with New York – characterised by high-rise living that is decidedly luxurious and spacious. While exclusivity comes at a price, you can still create a “penthouse” look and feel in your existing apartment or even the upstairs bedroom of a double storey house with some clever design changes and styling touches.
        
    X
    Subscribe to the MyProperty Newsletter

    Name  
    Last Name  
    Email Address  
    Email Frequency
    select
    X
    Share this Page

       
    For Sale Property
    Rental Property
    More Options
    About
    Connect with us
    FEEDBACK