Do Solar Panels Increase Home Value?

By: Adam

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If you're an eco-conscious home owner, solar panels are possibly the easiest way to generate 'green' electricity but are they worth it in terms of adding value to your home?

The Number of Solar Panel Installations in the UK

With nearly 1.5 million solar panels now installed on homes in the UK, it's fair to say that solar energy is the most popular way to reduce energy bills and possibly even generate some pay back. The average cost of a solar panel installation for a 3 bedroom property is generally considered to be around £7000 (we often carry out installations at a lower cost than this - even including battery storage - ask us for a free quote).

How Do Solar Panels Work?

Solar Power is effectively the harnessing of the sun's energy in order to generate electricity. Solar panels are made up of photovoltaic cells, often shortened to PV. The cells are almost always made from crystalline silicon which reacts to exposure to light. When sunlight hits the PV cells it creates a reaction within the structure of the silicon, which in turn produces an electric current.

What You Need to Know About Solar Panels

There are many reasons why people choose solar panels to power their homes, this can be for ethical reasons (reducing carbon footprint) or simply to save money.

It's Now More Sensible Than Ever to Install Solar Panels

With another hike in the price of energy on the horizon (as at August 2024) and the price of solar panels being currently quite stable, there's never been a better time to invest in a renewable future.

So Will Having Solar Panels Increase Your Property's Value?

Much of this is to do with timing, the quality of the system installed and the size of the system. If the installation is relatively new and is proven to be generating significant amounts of electricity then, in our opinion, given the choice of a house with such a system and one without, then this has to be a major factor contributing to what someone would pay for the property. Don't just take our word for it though - the chief executive of Admiral Money, Scott Cargill was recently quoted as saying...

Forget curb appeal – for those of us who are homeowners or buyers, it’s all about the green appeal.

This is against the backdrop of a survey carried out by the company in which they claim that having solar panels can boost a property value by 25 percent over comparable homes without solar panels.

Alongside this is a 2022 survey of over 2,300 UK-based survey by Santander bank that found buyers place an average 9.4% premium on homes that have solar energy systems. That's over £26,000 based on the average UK house price.

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