Five benefits of renewable energy

Renewable energy is beginning to become more common in suburban homes across the country. This is because renewable energy offers many benefits, not only for the environment but for the homeowner as well. Keep reading to learn about the top five reasons to get renewable energy.

1. Save money

One of the main reasons that homeowners invest in renewable energy for their homes is the money-saving advantages. For example, if every Australian was to shift to renewable energy there would be a total savings of $20 billion over two decades. At a smaller level, those who install renewable energy sources could end up with more money in the bank long-term.

From solar panels to solar hot water and having a more energy-conscious house overall, the savings can roll in just a year after initial installation.

2. Reduce emissions

Aside from saving money, having at least one renewable source of energy is also beneficial to the environment. The government has contributed to the broader national goal through the Australian Renewable Energy Agency (ARENA), which has provided "$1.81 billion in grant funding to 612 projects."

By reducing your use of fossil fuels and other nonrenewable energy sources, you could avoid further increases in carbon emissions, which contribute to climate change. This is part of a national government goal to "reduce its emissions by 85% by 2050."

3. Tax benefits

To urge more citizens to obtain renewable energy sources for their homes, the government has created some incentives to that end. Each state has its own advantages that could be gained through renewable energy in residential areas, all under the Small-scale Renewable Energy Scheme (SRES).

Here are some of the small-scale renewable energy systems that a homeowner could install to qualify for some of the benefits:

• Solar photovoltaic panels.
• Wind turbines.
• Hydro systems.
• Solar water heaters.
• Air source heat pumps.

You can apply for the benefit through the Clean Energy Regulator.

4. Price volatility protection

Renewable energy can also provide reliable protection against potential non-renewable resource price volatility, which may prove to be extremely important in the future. According to energy company reports, prices have been extremely up and down, shifting from $60 to $90/MWh in a few years and are expected to change again. As inflation increases and the cost of certain utilities continue to grow, renewable energy sources offer more stability.

5. Boost home value
Just by simply installing a few renewable energy sources, your home value can skyrocket. If you might be interested in reselling your home in the future, an energy-friendly home could be worth more than what you paid for it. Origin Energy published a survey in 2020 that reported that 60% of homeowners said they would pay $10,000 more for a home with both solar and a battery wall.

Ready to sell your home now? Reach out to Ray White Surfers Paradise today.