Experts weigh in on the home value enhancement through solar panel installation

In the ever-evolving world of renewable energy, solar panels have emerged as a popular choice for homeowners across the UK. The benefits of solar panels extend beyond energy savings, with research indicating that they no longer devalue a property and, in fact, can significantly increase its market value.

According to Marc von Grundherr, Director at Benham and Reeves, a leading property company, installing solar panels can boost a property's market value by around 4%, equating to approximately £11,500 on the current average UK property. This assertion is supported by a study by ImmoScout24, which found that houses with solar panels can achieve up to 20% higher sale prices compared to similar houses without solar installations.

The value of solar panels is not confined to the short term. Dan Hopcroft, Zero Carbon Homes director at EDF, cites a survey from Admiral Money that shows homes with solar panels are selling at an average of 25% more compared to similar properties in the same area without them. Furthermore, the BOXT energy report recorded a 14% uplift in value in 2023.

The cost of solar panel installation has dropped by 73% in the last 10 years, making them more affordable for homeowners. This decrease in cost, combined with the potential return on investment, makes solar panels an attractive option for those looking to save on energy bills and increase their property's value.

Regular cleaning, checks, and protection from nature are recommended for solar panels to maintain their value. It's important to note that solar panels are designed and fitted specifically to suit a home and should not be moved.

If you're renovating on a budget, it may be wiser to invest in energy-efficient measures like insulation and draught proofing. However, solar panels are increasingly seen as having value both now and in the long term.

The Microgeneration Certification Scheme (MCS) reveals that installation numbers for solar panels are on the rise. This trend suggests that homeowners are recognising the value that solar panels can bring to their homes. It's important to use a professional company for solar panel installation to ensure the system is installed correctly and efficiently.

In conclusion, the answer to whether solar panels add value to your home is categorically, yes. With the potential return on investment approximated at £4,000 based on the average added value, solar panels are a worthwhile investment for homeowners looking to save on energy costs and increase their property's value.