The rise in electricity bills for the average household has added to the cost-of-living crisis in the last three years. The Australian Energy Regulator has said NSW customers will see an increase in the next twelve months of between 7.9 to 9.7 per cent.

To keep electricity bills as low as possible and reduce the average household carbon emissions, the state and federal governments have incentives in place to encourage households to install solar panels and add battery storage capacity in support of the Federal Government's renewable energy target of 82% by 2030.

A potential third benefit has been revealed by property research company Cotality, which involves an increase in the value of a home that has installed solar panels and/or has a high energy efficiency rating. The benefit is a 3.2% increase in the value of your home. Depending on where you live, that value can be as high as $23,567 in regional NSW.

Watt’s it Worth has examined the relationship between residential energy performance and market value, with a specific focus on solar power systems and estimated thermal energy efficiency. The latter relates particularly to new builds.

In a Cotality report, it says that as energy costs fluctuate and household budgets are under pressure, consumer preferences are shifting.

"Buyers are increasingly drawn to homes that offer more than aesthetic appeal or location advantage, such as improved comfort, lower running costs, and resilience to rising electricity and gas prices. These expectations are now improving with a more suitable supply network too, as new builds adopt more efficient standards and solar uptake continues to accelerate across existing housing stock, partly driven by the increasing standards in the National Construction Code (NCC).

"Responding to these key market shifts, the property technology sector, which underpins all aspects of the property experience for the real estate sector and consumers, has recently launched the Proptech Energy Efficiency Features Standard for residential property. This Australian-first industry-led, data standard for energy efficiency features in residential property will enable clarity and visibility for these features at key decision-making moments in the property journey. It sends a strong signal that energy efficiency features and energy ratings are key to the next generation of property experiences and insights.

"Watt's it Worth is a defining report that answers questions and addresses the need for credible information. It demonstrates that energy performance and energy-efficient features are increasingly a measurable contributor to property value."

Totality claims that this report confirms a clear trend: homes with solar power systems and higher energy ratings are attracting strong buyer interest and demonstrable price premiums. We put that question to two Lismore real estate agents.

Andrew Gordon from R Gordon & Son was quick to say no, having a solar system does not lead to a higher house price.

"No one's ever said to me, I'm buying that house because it's got a solar array on the roof. They buy the house, and it has a solar array; they can either say, Well, that's beneficial, or it's of no benefit to me, or it's just part of the package.

"In my mind, solar has no influence on the purchase of a home. People go to look at the house if it has a solar array, well, that's just like, well, booyah."

Brett McDonald from Raine & Horne Lismore agreed that a house price was not higher because it had a solar system, but did see a benefit.

"Buyers are asking about solar. It matters, although I haven't seen an obvious shift in house prices that have a solar system. It makes home buyers feel better about purchasing the house they like.

"If we had two identical homes and one offered a solar system, the home with the solar would sell first. However, the house without it would still sell, and for the same price."

While the research strongly suggests there is a correlation between solar and house prices, on the ground, that doesn't appear to be the case in Lismore.