Do solar panels affect house prices?
With energy prices at historic and eye-watering levels, we know that installing a solar system at your home will make significant savings on your energy bills. And as the move to greener energy gathers pace in the UK, having a solar system (solar panels and a home battery) is becoming more and more desirable when searching for your next home.
But does adding solar panels and a home battery affect your properties value?
An article by property site Yopa.co.uk (click here to read full article at yopa.co.uk) says that it does, in a positive way. On average an increase of between 4% -14% and it is highly unlikely to detract from the value. The average house price in the UK is £ 296,000 and therefore, at the lower 4% of the range, adding £11,800 Cheaper than a 4kW PV installation with a battery.
The way I have thought about it for many years is that if you have 2 identical houses, in the same street, identical in every way except for solar panels, which one would you buy? Solar panels alone (no battery) will save around £50 per month (based on a 4kW installation, south facing, 30% self consumption, electricity 34.6p kWh), and even higher with a battery.
Now ... there are times when solar might negatively affect house prices and house sales - In the past ‘free’ solar installations were completed, but the panels remained owned by the installation company with a legal right to use the roof for a set number of years. This could be off-putting to buyers and even mortgage companies. Thankfully, this is now a thing of the past. It is important to make sure you 100% own any panels you have installed, as well as all the energy they produce (standard with systems supplied by TVR Electrical).
The other issue could be is an installation was completed poorly. It's really important to select a properly qualified and registered installer for your system. It's difficult to check qualifications for individual installers, but using an MCS accredited installer means they have been assessed within the last 12 months and are suitably qualified, insured and able to install to the required standards. MCS (Microgeneration Certification Scheme) installers are also able to issue you with the certification required to receive SEG (Smart Export Guarantee) payments form electricity suppliers for electricity you send back to the grid. It's also important when you come to sell your home that you can prove that the installation is completed to the correct standards. Always use an MCS certified installer, and preferably a RECC (Renewable Energy Consumer Code) member. TVR Electrical services are both, as well as NICEIC approved contractors and ECA members.
Are you interested in exploring solar for you home or business premises? Please get in touch, we would be happy to give you the most up to date advice about a wide range of solar products and your soar installation requirements.