Solar panels have become a must have for every environmentally conscious homeowner in the UK over the last decade. Most of us already know the major reasons for having a system installed; you’ll save on energy bills, you’ll reduce your carbon footprint and more. How many times has “do solar panels add value to a home?” come across your mind, when considering getting a system installed. Well, below are a few ways that solar panels can definitely add value to your home.
Reducing energy bills
It comes as no surprise that the primary reason that solar panels actually add value to residential properties, is actually the same reason people get them installed in the first place; to save money on energy bills. When you’re putting a property on the market, it needs to have an Energy Performance Certificate (EPC). The higher your EPC rating, the more attractive your property will be to buyers. Of course, we all know the best way to increase your EPC rating is to use solar panels alongside another energy saving measure, like insulation. Search for external wall insulation near me, to have the most energy efficient home possible!
The aesthetics of a house
Beauty is in the eye of the beholder, especially when it comes to considering the aesthetic pleasure of Solar PV. Granted, sometimes they can look awkward, odd or unappealing on residential properties, but that doesn’t mean they will devalue your property. Generally speaking, those who see more value in your property as a result of solar panels are not put off by the aesthetics.
Location, location, location
Research conducted by the Renewable Energy Magazine found that the price of homes in the UK increase by 14% when they have solar panels installed. A study in Opticon1826 found that 33% of people are more likely to buy a property if it had solar panels, while 53% said savings on fuel bills are the most important factor in buying a property with solar panels. Of course, the value of a property is different according to location. In London for example, solar panels can increase a home’s value by £90,000, whereas in Liverpool it can increase a home’s value by £23,384.
Time is of the essence
In order to truly appreciate the value solar panels add to a property, most experts only recommend installing them if you plan to live there for the next 10-15 years, as this is typically how long it takes for your savings to outweigh your costs. However, as solar panels are becoming more and more common, who’s to say how a system will affect the value of your property in 10-15 years time. Inflation and rising energy bills make it all the harder to make back the money you invested in your Solar PV system in the first place.
To sum up, getting solar panels added to your property will increase the value of your home, though perhaps not in the ways that you expected.