Baby Boomers lead solar trend, as upgrades can add $23k to your home

A new Cotality report has revealed Aussie homes with solar systems are valued at 2.7 per cent higher than comparable homes without. It turns out these are much sought after by mature home buyers and renters.

Over-60s have proved to be the most energy-conscious in separate research by Green.com.au, which found 87.2 per cent of Baby Boomers surveyed would pay more for a home with energy-saving features.

It comes as those thinking about retirement, or who have already retired with a fixed income, battle rising energy costs like Rob Ashes.

The 69-year-old of Sydney's Lane Cove, said his spacious three-level home with large glass sliding doors and a pool was an "expensive house to maintain", but it served as a cherished central hub for his family to gather.

"I'm actually thinking a bit ahead ... the income will sort of diminish in the next 5 years or so [when I retire], and that'll leave us with whatever we've squirrelled away, which would be a finite amount of money," he told The Senior.

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Mr Ashes and his wife have owned their home for more than 30 years but aren't ready to downsize.

Instead, they've found ways to make it more affordable like investing in smart blinds inside and out (to protect against harsh western sun and keep cold nights warm) and a new solar system on the roof, with a plan to purchase a home battery in the future.

"[We've] already reduced the power bills down to half of what it was, even through winter," he said.

"These figures mean a lot to you when you're not earning money, because you really only have your reserves."

Mr Ashes also highly recommends insulation beyond batts in the ceiling, to ensure all your heating and cooling isn't wasted.

"It's a bit like what mum and dad used to do, we had a two-storey house and the whole place was shut up, blinds down and everything on a 100-degree day, and if you left the door open you were nearly shot," he laughed.

This trend coincides with Green data, which revealed 59 per cent of Boomers will pay extra for quality insulation, a massive gap compared to just 34 per cent of other generations.

Dave Green, founder of Green.com.au, said sustainable energy features were "significant value drivers", especially for Baby Boomers who "understand the value of cost certainty".

Cotality's Watt's it Worth report also found for every additional estimated NatHERS energy efficiency star, a home's median value increased by a 1.3 per cent (approximately $10,560), though nearly 70 per cent of Australian housing stock sits below four stars.

Nationally, the report found 29 per cent of houses had rooftop solar - where coverage exceeded 40 per cent in cities like Perth, Adelaide and Brisbane, though Hobart, Regional Victoria and Regional Tasmania fell below 20 per cent.

But the notion of saving dollars thanks to sustainability also extends to downsizers, too.

Builder Jake Green, general manager of building supplier Maaken, has been working on Queensland lifestyle village developments and said over-50s are driving demand for "quieter, more temperature-stable homes" that are "easier to heat and cool".

For Mr Ashes, it's not just about saving money, but also protecting and increasing the value of his and his wife's biggest asset.

"As you're getting older, you've got this limited income," he said. "We're very lucky to be in a position where we are to have those choices."

To find out more on government energy rebates, visit www.energy.gov.au

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