'Going solar' could add over £30,000 to the value of your home
“Going solar” could increase the value of your home by over £30,000 ($39,297), research suggests.
Properties that have added solar panelling sell for 14% more — an extra £32,459, based on the average UK house price, research by solar panel specialists EffectiveHome, based on government data, found.
However, some regions benefit even more, with Londoners seeing their house prices jump a massive £90,000 after going solar.
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Meanwhile, those in Bristol can add £45,142 to the value of their home, while homes in Edinburgh could be worth £40,095 more, those in Leister £31,577 more, and those in Manchester £29,278 more.
Top 10 cities that benefit from going solar
London (adds £90,000)
Bristol (adds £45,142)
Equity gains on a property with added solar panelling can be massive in the UK, with homes initially valued at £100,000 jumping by £14,000, and those valued at £2m jumping by £280,000.
Equity gains based on initial value
£100,000 (added £14,000)
£250,000 (added £35,000)
There are many reasons going solar makes a home more desirable and, thus, valuable. Homeowners save about £27,500 on electricity bills over a 30-year period, according to independent research by EffectiveHome.
This is particularly important in the current climate, with Brits being hit by a 37% increase in energy bills during the COVID-19 lockdown, as they spend more time at home.
Additionally, those with solar panelling have the option of selling surplus power back to the national grid — particularly in summer, when there are more daylight hours but less energy is used in Brits’ homes.
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“With house prices currently experiencing a mini boom, it’s interesting to see what impact solar energy and benefits such as reduced energy bills and lowering carbon emissions is having,” said Dan Graby, director at EffectiveHome.
“We hope our findings are a welcome surprise to property sellers across the UK who may be unaware that making energy efficient changes to their home, can make such a significant contribution to its valuation. There is a clear appetite amongst homebuyers to move to a property which is sensitive to spiralling energy prices, global warming and the environment we live.”