You’ve probably heard a lot about solar panels in the last decade or two; from how they can be used to generate electricity to how they can reduce your energy costs.
And now, you might also have heard that solar panels can increase the value of your home — which could be one of the best benefits of them all! But how true is this claim?
Let’s take a look at the facts about solar panels and see whether or not you should consider adding them to your home in order to increase its value.
Install solar panels, generate your own renewable electricity and reduce your energy bill.
Are solar panels and property value linked?
For a variety of reasons; houses with solar panels sell for £1,891 more on average. As more people choose renewable energy for the environment’s sake, the gap between solar-powered houses and houses without a green energy source is only likely to grow.
Below is a breakdown of the reasons why your home’s value might increase when you install solar panels. Furthermore; it discusses some people’s concerns about solar decreasing house prices and why these issues aren’t a problem.
Can solar panels increase the value of your home?
According to a UK Solar Trade Association; not only do solar panels increase the property’s value but they offer more than one advantage. Their most recent research reveals that data from five million home sales, showed that solar panels typically boost the value of a home by £1,891 – £2,722. The solar properties have a 0.9%-2% premium and so the selling price of a house may be increased by up to the price of the panels.
Exactly how much depends on your house’s value; where it is located, what size it is, and any other extraordinary modifications you may have, such as a charge point for electric vehicles. buying solar panels increases the value of your home.
Why do solar panels increase the value of my property?
Depending on your home’s location; solar panels can vary in the cost of installation. This value is reflected in the price you could ask for it.
If, before selling your home, you had new double glazing installed, then panels would be much like any other extension or feature you added. you will see this reflected in the sale price of your home; as well as the additional value associated with the panels.
Other than that, solar panels…
Can help lower your energy bills
A benefit is that they will help you save on your power bills for the year; and for those people buying a house for the first time, this is a benefit you can also highlight in a sales pitch.
It is possible for solar panels to make you money if you generate more electricity than you use or store; you can sell the extra electricity to the grid. When presenting your house to potential buyers, you should tell them about the substantial savings and extra income to be gained from installing solar power. This may help sell your house for a higher price.
Stand out when selling
Furthermore, they can make your home stand out when you put it up for sale. In a buyer’s market, having something that makes your house different from the rest might help it sell for a little bit more.
Can they decrease the value of your home?
There is a positive link between house prices and solar panels, not a negative one.
The simple answer is that solar panels do not negatively affect your house price.
In the past, you might have thought that installing panels would involve ongoing maintenance costs. But thanks to technology advances; that’s no longer the case. the panels on solar panels don’t need to be maintained or cleaned at all.
It’s because they have a special coating that repels dust, dirt, and water. Solar panels can be kept clean and functioning efficiently with regular rainfall.
In addition; you might worry that the panels will have to be replaced as technology advances. It’s true that technology advances constantly; but you won’t need to replace a panel until it reaches the end of its lifespan; which is typically after 25 years.
Start your solar journey
Besides the benefits to you financially and environmentally; society’s growing move toward using renewable energies like solar power is creating more opportunities for homeowners to invest in the use of solar energy; houses that are now constructed with solar panels are always in high demand and might increase their property value. electricity has emerged as the future energy as the world moves away from fossil fuels and transitions to a more sustainable path.
We understand why that might sound too good to be true. So; why not learn more on our website and if you’re ready to start your renewable electricity journey; you can get a FREE no-obligation quote today!
Don’t let just anyone install your Solar Panels
Here at Switched On Yorkshire are qualified and certified as an approved Microgeneration Certification Scheme (MCS) Installer.
Our team of highly professional personnel can talk you through the process and hold your hand every step of the journey.