Does installing solar panels increase your property's value?
Up to 14% can be added to a houses value from boosting EPC rating, However…
The question is broad and has grown into a heated topic as the ever growing interest in solar panels spreads throughout the UK. A conflict of opinion between the value of solar panels can have on a property’s value.
Whereas many sources present a plentiful percentage increase, with statistics showing 7%-12% from boosting EPC, and up to 2% for the premium of having panels installed.
Some sources still beg to differ, stating that panels would only be profitable to your homes value in the London and Brighton area.
No matter what side you are on, the positive still remains that installing solar on your home would not deprecate the value on your home in any manner.
Ultimately, the question of “Will solar panels increase the value of my building” is dependant on the person buying the property. Though, there are aspects that can further sway the interest and perceived value of your installation to your estate agent.
- The type of property – The size of the installation and if its a Residential or Commercial property
- The generation of the solar installation – Generating a majority of energy in comparison to the projected spend.
- Property location – Sunnier areas of the UK and counties that have an active goal in achieving net zero.
The benefits from installing solar for the property owner and future owners are still loud and clear however.
Here are some of the factors to remember that puts your property above the rest.
- Secured Energy prices – With energy price hikes and fluctuation, many people are in the unknown about the future of their bills. With a PPA (power purchase Agreement) They can agree to an extremely reduced fixed rate for up to 25 years alongside solar.
- Cheaper energy – With the prospect of the panels paying for themselves in (on average) up to 5 years, Solar starts generating savings immediately. Relying less on the grid and price spikes that frequently occur.
- Solar is a USP – A USP (unique selling point) Can play a major factor in setting your property above the rest. An added benefit that not many other homes have, and in addition to that, all the bother of installing from scratch has already been completed.
- ROI prospects – The fact of having solar panels installed is a major factor when thinking about the longterm of owning a property. As the panel continuously generate power and savings throughout the year, every year. A very attractive thought that buyers will consider.
- Modern approach –Buyers on the look out for more modern buildings will appreciate panels on their property. Be it for wanting to stay up to date on technology, following the growing normality and trend of solar, or to be part of the solution to help the planet go green.
These factors and benefits are recognised by Estate agents, confirming the difference it makes on finalising a sale. Directly stating “For homeowners hoping to increase the value of their house, installing solar panels may be a wise investment”
The main factor that adds direct value to your property through solar is the change to your EPC rating. Reaching an EPC rating of “C” which is very possible from most ratings below “C” with installing solar, can net you up to 15% of your homes value. According to RightMove’s report in 2023.
FAQ
Do solar panels increase my EPC rating?
Yes. With results between a 10 – 23 increase to your EPC rating, dependant on the size of the system relative to your home.
How long does it take to install solar?
Once a decision has been made and contract is signed, Evergen can install your system and even battery in a single day.
How do I check my home's value?
There are a couple of options to get an accurate appraisal of your property.
You can consult your local Estate Agents, or hire a professional appraiser who is knowledgeable on solar systems. Or, you could look at other properties for sale, or have sold, in your area with solar installations to see real world examples.
How long on average does it take to pay off my system?
On Average, Evergen Customers can find themselves paying off their system within 3-5 years. And in other unique contracts such as a PPA and commercial properties can find themselves cash flow positive from day one.
