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Investing in solar energy isn’t just a good idea for the environment – it is also a long-term decision that increases the value of your property. Homeowners often wonder about what the impact of solar panel installation can have on the market value of their houses. In the UK, the connection between solar panels and the value of property is notably positive. Not only does the addition of solar panels to your home raise its market value, but it attracts environmentally conscious buyers who prioritise sustainability and eco-friendly energy practices.
With people becoming more conscious of the environmental and financial benefits of solar energy, the current demand for solar energy is higher than it has ever been. Due to the increased demand for solar energy, it makes sense that the demand for houses with pre-installed solar panels has also gradually increased.
A recent survey was conducted that asked Brits how likely they would be to buy or rent a property with solar panels. In total, 69% of Brits determined they would be very likely to buy or rent a property with solar panels, with Gen S sitting at 71% likely and Baby Boomers at 65% likely. Overall, BOXT’s annual energy report discovered that the addition of solar panels to your home can actually increase its value by 14% on average.
The appeal of Solar Energy
In the current market climate, potential buyers are hyper-considerate of their environmental footprint and the financial burden of buying (or renting a house). This established solar energy as a highly attractive commodity item that is an eco-friendly investment guaranteed to save money in the long run. On average, the installation of solar panels can save anywhere between £500-£1000 on energy bills yearly. The savings on annual electricity bills are a huge attractor for potential homebuyers and increase the value of your home drastically.
Does anything Affect the Increased Value?
It is important to take into consideration the climate of your environment and the maintenance of your solar panels when calculating the value they add to your home, as both factors can impact how potential buyers view your property.
Climate
Solar panels are obviously most effective in sunny environments, but the installation of battery storage for your solar panels will maximise the increased value of your home. Especially in the North of England, where the sun it’s never a guarantee, it is important to add battery storage to your existing solar energy system to maximise the solar energy sourced and the advantages of solar panels in the marketability of your home. Take a look at how the addition of battery storage to your existing solar panels can increase market value and save you money in the long run here.
Maintenance
The maintenance and upkeeping of the solar panels also must be taken into consideration when discussing the market value increase of your home. Regular maintenance (twice a year) of your solar system is essential to maximising the energy created and the functionality of your solar panels. Assuring your solar panels are in well working condition is essential, as well-maintained, clean, and properly functioning solar panels are much more likely to attract potential buyers and increase the value of your house. If you are anxious about the upkeeping of your solar panels, North East Solar has you covered. Click here to learn more about our maintenance service on any solar panels installed, for as long as you need it.
Conclusion
Overall, solar panels are not just a positive addition to your current finances and environmental footprint. They can increase the marketability of your property and set you apart from the other houses on the market.
We Can Help You
From installation to maintenance, we ensure your solar panel installation process is as smooth as possible. We even take care of the paperwork for you! Contact us at 0191 500 1154 or go here for your FREE personalised quote to determine how many solar panels you need for your home or business.