Solar panels have long been a great way to increase the energy efficiency of a dwelling – but, can solar panels actually increase the value of your home too?
Solar panels are used as a key source of renewable energy that can be used to power our homes, businesses and communities within the UK. With new battery storage methods and greater solar capability, there are many reasons as to why we would recommend our clients to consider generating their own electricity with solar.
However, whilst solar panels may be great for powering your lights and appliances, does installing it within your home result in long term benefits? We get asked a lot…
Will solar panels increase the value of my home? Research has found that solar panels can add around 4.1% to a home’s value. Adding solar panels to your property can help to provide you with a higher energy performance rating, adding value to your property.
Alongside the higher Energy Performance Rating, there are numerous other benefits to having solar panels fitted within your home and within this blog, we will provide you with a run down on how they can add value to your life and home.
What are the benefits of installing solar panels?
We’ve got to be honest; we may be biased, as we are huge advocates for systems! But, there are a range of benefits to introducing solar panels within your homes.
For example, when considering your home’s value, research from Renewable Energy Magazine has found that going solar could increase the price of your home up to 14%! This is a great return on investment and is similar to the kind of numbers you’d be seeing if you were to get a new extension. But, another enormous benefit of solar energy systems is that they can reduce your bills by up to 70%.
Some other benefits include:
Reducing your electricity bills
According to E.On, by generating your own electricity through solar panels, you could cut your annual electricity bill by up to £400!
Preparation for the future
Fossil fuels are finite and will run out. But before that, prices are going to get a lot higher, highlighting the importance of homes having their own energy systems. From the sustainability of the home to the economic research that buyers will engage in, offering a home with solar energy will help buyers make smart, budgeting decisions.
Reducing your carbon footprint
Solar panels are a key source of acquiring clean energy and any home that uses them to power their homes sustainably will be contributing to the UK’s goal of achieving net zero by 2050! With over 70% of UK adults being concerned about climate change, it’s important to highlight how cutting carbon footprint within a home not only means you are saving 1.6 tonnes of CO2 per year. You’re also helping to protect wildlife habitats, communities and economies threatened by our warming climate.
High return on investment
Solar panels do require investment, but they will definitely repay that over time thanks to the lower electricity bills! There are also government incentives that can help pay for the system if you are unable to afford them at the moment. In fact, Trade Body Solar Energy UK recently published a report which found that homeowners who sell their house after installing solar panels would receive some of that value of their investment back in a higher sale price. Out of their study on 5 million properties, it found that a typical home with solar panels increased in price by at least £2,000.
How do I know if my home is suitable for solar panels?
Most homes will be suitable for solar panels. However, there are some aspects that you will need to review when considering to get solar panels. For example, your roof should ideally face south as this is the optimal position to get sunlight. However, this is not essential: if your roof faces east or west, you will still be able to get sun, but you may need a few more panels.
It is recommended that the roof angle is anywhere between 30 and 45 degrees, but if you have a flat roof, panels can always be angled using specifically designed brackets. When it comes to roof materials, typically, the most common rooftop materials can withstand a solar panel. It’s important to note that roofs made from wood are not suited for solar panels due to the higher risk of an electrical fire.
In addition, whilst most roofs last up to 40 years, unfortunately, the older the roof, the less suitable it becomes for solar panel installation as it may naturally deteriorate overtime and could be too weak to support the system. How much money will solar panels save me?
According to Energy Saving Trust’s estimates, a typical household with a 3.5 kilowatt-peak system can knock off between £195 and £480 a year on bills at the current energy price rates – saving up to £480/year on your bills!
In addition, you could get paid £130/year for excess energy you generate. Through the Smart Export Guarantee Scheme (SEG), a typical household based in the middle of the county could make between £90 and £130 on a rare of 5p per KWh.
Is it expensive to run and maintain solar panels?
You’ll be happy to hear that solar panels are very low maintenance. With no moving parts, they do not need to be handled or moved and they are made from very robust materials. As long as you keep them clean and discourage animals from nesting in them, they will be fine! Although, panels do degrade and it’s likely you will need to replace them sometime in the next 40 years. But overall, the maintenance cost of a solar system will not affect your house price.
Sounds great – why wouldn’t I get solar panels?
Whilst there are many benefits, some ‘negative’ factors that you will need to consider if you are wanting to get solar panels.
- There is a high cost to install panels
- It can be expensive to store solar energy
- They are dependent on sunlight
- They can be viewed as ‘ugly’
However, as mentioned above, we think that the benefits outweigh the negatives. But, if you are ever worried about whether solar panels are for you, we can help guide you through the process and find the best option for you. There are also many government grants that you can consider, such as the Green Deal.
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