Installing solar panels on your UK home could increase its value by up to 14%, according to The Eco Experts. Here’s how:
1. Lower Energy Bills
One of the primary reasons solar panels boost home value is the significant savings on energy bills.
For a typical three-bedroom house in the UK, homeowners can save approximately £482 annually by switching to solar power.
Additionally, the Smart Export Guarantee (SEG) allows homeowners to sell excess energy back to the grid, potentially earning an extra £159 each year.
Altogether, solar panels can save homeowners up to £641 per year.
2. Increased EPC Rating
Solar panels can significantly improve a property’s Energy Performance Certificate (EPC) rating.
An EPC measures a home’s energy efficiency, and upgrading from a lower band to a higher one, such as from G to E or D to B, can make the property more appealing to buyers.
The Department of Energy and Climate Change (DECC) found that higher EPC ratings correlate with increased property prices. With the UK government pushing for all houses to be rated ‘B’ by 2030, homes with better EPC ratings are increasingly in demand.
3. Home Improvements
Like extensions or conservatories, solar panels are considered home upgrades that enhance property value. Buyers appreciate the long-term savings and the reduced initial investment in energy efficiency. As a result, homes with solar panels often sell for more.
Roland Ellison, Editor at The Eco Experts, emphasizes that with rising gas prices, the benefits of solar energy are more compelling than ever. Homeowners not only save on energy bills but also make their properties more attractive to buyers.
However, it’s crucial to check the age, warranty, and maintenance costs of the installed panels before purchasing a solar-equipped home.
Breaking Even on Solar Panels
The Eco Experts estimate that it takes nearly 15 years for the average household to break even on solar panel investments.
Given that solar panels typically last at least another decade beyond this breakeven point, the long-term benefits are substantial.
This post was originally published on 3rd party site mentioned in the title of this site
