Do Solar Panels Add Value To A House?
For those looking to install solar panels, a consideration is their impact on the value of your home. Some worry that the aesthetic appearance of solar panels may make the house less desirable, therefore reducing the value. Others argue that a more efficient home with lower energy bills is more desirable and therefore push up the value.
In truth, the simple answer is it depends on several factors. In this article, we’ll cover some of the main factors that influence whether installing solar panels have an impact on the value of your home.
For some, the typical appearance of a solar panel is unsightly and therefore undesirable to have on a house. While that may be true for some old styles of solar panels, the technology has moved on meaning that solar panels can be integrated into a roof and even come in several different colours that can help them blend into the environment in which they’re installed. Modern solar panels have increased in popularity and as such often aren't given a second look with it becoming commonplace on homes in the UK, therefore often not impacting the value of homes upon which they're attached.
Certification and Paperwork
While having solar panels installed is definitely a positive, ensuring that the panels are installed by a reputable installer and all of the correct paperwork is supplied is an absolute must. As solar panels require electric or plumbing work, prospective purchasers want to be assured that the work has been carried out to a high quality and the panels will be safe. Therefore, to ensure that having solar panels has a positive impact on the value of your home, ensuring that all the correct paperwork is to hand and the panels have been installed by a reputable installer is important.
For some savvy property buyers, solar panels may be on their wish list when searching for their next property. As solar panels typically consist of upfront payment (if not financed), properties that already have solar panels installed could save the purchaser thousands if they were to do it themselves. Therefore, homes with solar panels installed can both make the home more desirable and also increase its value.
Grid Electricity Prices
For homeowners reliant on energy produced by the grid, typically bills will increase year after year and are subject to pricing fluctuations. As with the announcements in July 2021, regulator Ofgem lifted the price cap of gas and electricity bills cap by £150 per year. Coupled with the news that 2022 could see energy bills rise by a further 30%, this only means that solar energy is a more attractive proposition for homeowners and prospective buyers. This, therefore, means that any house that already has solar panels installed is positive and could become even more so in the future.
Time and Degradation
For any prospective purchaser, the amount of time a solar panel has been installed and the amount of degradation may be a factor. If the solar panel has been installed for several decades, the efficiency of the solar panel along with the value that the solar panel would bring to the new owners of the property would be limited or lessened. This can therefore lower or have a neutral impact on the value of your property, as homeowners may see the older panels as a burden if they were to get them uninstalled after they’re no longer functioning.
Install Solar Panels Today
At SolarTherm UK, we supply the latest solar equipment coupled with installation from highly trained and qualified technicians. Our team can provide a free non-binding initial assessment to determine the efficiency of solar panels on your home as well as the payback period involved.
Enquire online, give us a call, talk to us via live chat or request a call back from one of our friendly team to find out more about solar panel installation. We will be in touch to find out some more detail about your solal panel requirements and to answer any of your questions.