Kaya 959 Reporter
Does owning a solar system at your home increase the value of your property?
South Africans have been experiencing ongoing power outages and many have been scrambling to find out what are the best alternatives to power generation.
According to the Department of Energy, South Africa gets exposed to about 2,500 hours of sunshine per year, with average direct solar radiation levels ranging between 4.5 and 6.5 kWh/m2 (kilowatt-hours per square meter per day).
Energy supply is very important for social and economic activities.
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Kaya Biz with Gugulethu Mfuphi recently spoke to Nthato Rabashanga, who is a property expert, wealth coach and CEO of Wealth Creation Network to unpack what South Africans must understand about having a solar system on their property.
LISTEN TO THE FULL CONVERSATION HERE:
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When many people make upgrades to their houses they always assume that this will increase the value of the property.
Rabashanga, suggests that in most instances it takes a considerable amount of time for many to recover the capital used to install a solar system.
“The most important thing that people must consider if they ever wanted to make the decision of adding a solar panel to the homes, is that the decision is solely based on improving their livelihoods while living in that property.
“The capital costs of installing such systems in your home are quite high, it is going to take many years to recover those costs if you were to compare yourself to someone who is on the grid,” says Rabashanga.
He also gives the difference between intrinsic value and market value of a property.
He also outlined what people’s preferences are when it comes to acquiring property, saying not too many people are convinced with the concept of green energy in the property market.
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