How Will Installing Solar Panels Affect the Value of My House
Will fitting solar panels affect the value of your property?
With more and more people looking at for ways to be greener and also save money on their energy bills installing solar panels can be a good option. Although it is still a relatively new concept of getting your electricity through the use of solar panels, research carried out in both Europe and the United States show that having solar panels fitted can increase the value of your home. However be aware that it may take many years of energy savings until you recoup your initial outlay, although the pro's far out weight the con's.
A recent study conducted in the United Kingdom has shown that a third more buyers would be willing to pay more for a property already fitted with solar panels especially if you have a feed in tariff, which means you can 'sell' your extra electricity back to the energy suppliers. It is also worth bearing in mind that having solar panels fitted, and therefore saving of between £700 and a £1000 a year, depending on your energy consumption, will make your property a much more attractive proposition.
When it comes to the marketing of your property however, many estate agents do not have a great deal of knowledge on solar panels and house prices and unless a property similar to yours with panels fitted has been sold they will have nothing to compare sale values on a like to like basis, this is where you will have to step in to provide them with the knowledge they lack. It is well worth you having copies of your energy bills to hand as well as any details of feed in tariffs to show not only your savings by having solar panels installed, but also any income you may receive from the panels. You should also explain that the feed in tariff is fully transferable on the sale of the property, thus the attraction of buying a house with basically free electricity and up to a 10% income for the remainder of the contract should clearly be a great incentive to prospective buyers.
In a nutshell, by installing solar panels to your property, you are not only benefiting from lower energy bills and adding value to your property, you are also helping the planet by using a renewable source of energy that has little or no negative impact on the environment.