Are Solar Panels Increasing House Prices?

If you’re wondering whether solar panels can help increase the value of your home, we’re looking at what the latest housing figures suggest. Do these panels have the power to warm up your house valuation? Let’s take a look.

One of the key things homeowners want to know before signing up to make the switch to solar energy is whether the overall financial gains to be had outweigh the initial investment. The installation costs and maintenance costs should be factored into your budget to help you determine whether or not the investment is worth it.

However, there are several financial benefits that certainly shouldn’t be overlooked – including the potential to increase your property’s worth. In fact, a recent report by Solar Energy UK has suggested that solar panels could increase property prices by around £2000. It’s certainly not an increase to overlook. This can also be a helpful consideration for property developers.

Not forgetting that once installed, you could stand to save up to 70% on your energy bills and even pocket a bit of extra cash by selling excess electricity to the grid. All of these financial incentives combined certainly paint a positive financial outlook for investing in Solar PV installations for your home or business.

Remember, if you’re thinking of taking out a loan or remortgage to afford the installations, it’s important to get the correct financial advice.

What does this mean for homebuyers?

If you’re buying a property with solar panel installations, you may expect to pay a little more for the privilege. However, it can be worth asking for information on exactly how much electricity the solar panels generate, how much they cost to maintain and whether any electricity is still required from the grid to build a more accurate picture of what a solar PV installation means for your energy bill costs. If there are lots of savings to be had, then the property purchase could be a no-brainer – especially when you don’t have to foot the bill of the initial installation yourself.