With the global climate crisis becoming an increasingly urgent issue, it’s vital we all play our part in protecting the planet. And with the majority of our carbon emissions being generated at home, this is a great place to start making more eco-conscious choices in your life.
One of the most common ways people are looking to reduce their carbon footprint is by utilising solar technology to generate their own renewable power. Solar panels are becoming increasingly accessible, and they can offer cost-saving benefits in addition to promoting positive environmental change.
Better yet, having a solar system installed could even boost the value of your home, should you ever look to sell. But why is this the case? In this post, we explore how and why solar panels can boost your home’s value.
Beyond the environmental benefits, the primary reason homeowners might look to install a solar panel system is to take back control of their energy supply and ultimately reduce their utility bills. Using solar power reduces your reliance on purchasing electricity from the grid, helping to save you money every day.
In the UK, homes with solar panels can also benefit from the Smart Export Guarantee (SEG), which is a way to make some extra cash by selling any excess electricity you generate back to the grid. With the long-term cost savings, plus the opportunity to capitalise on the SEG, there are more ways than one in which solar panels can save homeowners money.
Modern homebuyers are demonstrating a clear preference for properties that come with pre-installed eco features that make it easier for residents to reduce their carbon footprint at home. This is particularly true of younger generations, with one study finding that 74% of Millenials and Gen Z were either “likely” or “very likely” to buy a home with solar panels.
In addition, having a solar panel system installed on your roof is an excellent way to boost the curb appeal of your property. Make sure to regularly check and maintain your system so it remains in good condition and can produce electricity for your home at an optimal rate.
Generally speaking, having a solar panel system installed on your property will boost its value if and when you look to sell. However, with so many variables at play, it’s impossible to say how big of an impact the technology will have on house prices. Most importantly, the impact will vary depending on location and the needs of prospective buyers.
Ultimately, homeowners wouldn’t invest in a solar panel system purely to boost the value of their property since the initial investment is likely to cancel out the cost benefits. However, if you’re able to make use of the system yourself before selling your home further down the line, you’re likely to attract a higher price tag owing to this eco-friendly installation.