A solar PV system isn’t just good for the planet, it’s good for your pocket too. Whether you are just starting your solar journey or already have solar installed and are considering moving, whether solar panels add value to your home or not is probably something you consider.
Let’s break it down.
The Value of Solar: What the Data Says
2023 studies by BOXT and EffectiveHome found that solar panels can boost your property value by up to 14% depending on location and type of property. On the other side of the coin however, you have people who are put off by solar panels, considering them to be ugly and limiting the home’s selling potential.
A recent survey of homeowners revealed that many are prepared to pay a 10% premium for properties with eco-friendly features. Another survey also found that tenants are willing to pay more for greener homes too.
Why Buyers Love Solar Panels
Solar panels aren’t just the latest green trend, they are money saving, daily living essentials. Households with a solar PV system can expect to save up to 70% on their energy bills each year.
Solar panels also improve your Energy Performance Certificate (EPC) rating, impacting how energy efficient your property is. With new energy standards on the horizon, having a home with a high EPC rating is becoming more important for potential buyers.
The UK’s View on Solar Homes
Public opinion also supports the research:
- 69% of Brits say they’d buy a property with solar panels
- 74% of 18-44 year olds say they are likely or very likely to buy or rent a property with solar panels
- Only 4% of Brits would be very unlikely to purchase a home with solar panels
And if you’re worried about aesthetics? SolarTherm UK uses modern solar PV panels that are all black and can be integrated into your roof so are less noticeable on your roof top.
Does Solar Make Your Home Easier to Sell?
In many cases yes, provided you choose an Estate Agent who highlights the benefits of energy bill savings, SEG (Smart Export Guarantee) payments and the environmental impact. Many buyers will appreciate the immediate savings without the upfront installation costs. Include drone shots or scaffold shots taken during installation for a strong visual selling point.
Key Considerations When Selling
While in most cases a solar PV system can add value to your property, there are occasions when the return isn’t as obvious.
- Leased panels – a leased system can complicate the sale. Owned systems are far more attractive to buyers
- SEG transfers – SEG payments will go to the new owner on completion of sale
- Panel age – old systems (20+ years) may not add much value to your home
Should You Install Solar Before Selling?
Maybe – but weigh up the costs vs the returns. If you’re planning on staying in your home for the next 5-10 years, you will see some of the benefit of reduced bills and return on investment, as well as benefitting from the increase in home value due to the increase in EPC rating and green appeal of the property on the housing market.
If you’re planning to move sooner, it will probably be more beneficial to hold off solar installation and save the investment for your new property.
In Summary
If you want to future-proof your home and make it more attractive to eco-conscious buyers, solar panels are a smart upgrade. They can increase value, decrease energy bills and make your home more appealing on the market.
Want to Know More?
Contact SolarTherm UK for a free bespoke design package, including performance, return on investment and savings projections. Our designs are tailored to your property, usage and future energy needs. No hard sell, just honest, expert advice – we let the figures do the talking.
