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The benefits of installing solar in the home

27th Sep 2011

Solar power has received a great deal of attention in recent years, particularly in relation to rooftop panels for everyday consumers.

For those thinking of installing a system in their home, there are a few important points that need to be considered.

One benefit that has emerged in recent months is the potential to increase the value of a property should an assessor deem solar panels to be an asset to the purchaser.

Comments made this month (September 20) by an industry spectator have highlighted an upcoming shift in the way that the real estate market views solar panel systems in the home.

Ben Elder, global director of valuation for the Royal Institution of Chartered Surveyors says the value of sustainability in a home extends beyond a reduced environmental footprint.

Elder states: "Another benefit is the potential increase in the value of a property should an assessor deem solar panels to be an asset to the purchaser.

"With the increased emphasis on green living and energy efficiency, it is highly possible that the market will need to adapt."

Solar panel systems can also contribute to an overall reduction in the amount of energy being purchased from an electricity supplier.

Traditionally, a household will be connected to an energy distributor - where the energy is generated elsewhere.

This could be via coal-fired power, which is then fed through the grid into your home.

However, as solar panels are their own self-sufficient power generation system, you will effectively be generating your own energy.

By reducing your reliance on the utilities company - or the 'middle man' - you'll be able to see savings on your electricity bill.

This alone is often reason enough for many to install a solar system, however there are a number of additional benefits.

Residents in certain states may find themselves eligible to participate in a feed-in tariff scheme.

For example, households in Victoria who install a solar panel system are able to apply for a place in the program which pays consumers for excess power that is channelled back into the region's grid.

Effectively, if you're generating electricity that you aren't using during the day, your solar power system can allocate it to a power company who will pay a set rate for it.

Households should check with their individual state government for the status of their feed-in tariff scheme.

Posted by Mike Peacock - Solar Correspondent

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