The value of residential solar has been touted after new research revealed that the technology can boost the value of houses by over £30,000.
The research comes from EffectiveHome.co.uk, a website dedicated to providing information and guidance for homeowners regarding solar. It found that installing solar PV can increase house prices by an average of £32,459 across the UK.
Houses in London see the biggest increase, with the value jumping by £90,000. The country’s capital therefore has the largest increase in value of the ten largest cities in the UK, followed by Bristol (£45,142), Edinburgh (£40,095) and Leicester (£31,577).
The equity gains are also “significant”, according to the research, with £14,000 added to a £100,000 property, £70,000 added to a £500,000 property and £280,000 added to a £2 million property.
The value is created in the ability to save on energy bills – particularly as these have increased by 37% on average during lockdown – as well as the ability to sell surplus generation back to the grid.
“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,” Dan Graby, director at EffectiveHome.co.uk, said.
Read more: Solar Power Portal