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Proof: Solar Installations Have a Positive Effect on Home Sale prices

FNB Residential Property Barometer-September 2023 reports on the impact of load-shedding on buyer preferences:

FNB used their FNB Estate Agents Survey results for Quarter 3 of 2023, to qualitatively assess how the unprecedented intensity of load-shedding in the last 12 months has reshaped buyer preferences in the domestic market.

Results suggest greater demand and a willingness to pay a higher price for properties pre-installed with solar solutions. However, this is only limited to the affordable market. Most agents estimate that the premium is generally within the 0-5% range of the purchase price but could go up to over 15% in certain instances. In part, this reflects the inherent supply shortages in this segment, let alone properties with installed solar systems. This often leads to bidding wars among buyers.

In higher-priced segments, however, pre-installed energy solutions play a less significant role in buying decisions, as wealthier buyers prefer customisation. This means that wealthier buyers are more indifferent, likely because they have superior access to savings and funding options, and therefore can always install these themselves with relative ease.

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