Solar and green initiatives now boost home values
Installing solar panels and other energy saving initiatives is set to enhance the value of homes across the South West, according to property specialists in the region.
With the Government setting ambitious targets for Net Zero Carbon by 2050 and energy prices rising the value of a home with a solar power scheme is likely to outpace one that does not, according to Andrew Simmonds of Parker’s Estate Agents.
He said: “Until now many property professionals would say that having solar panels or other green initiatives can devalue a property, but the landscape has now changed.
“With serious Government targets and increasing pressure to support the environment and counter the effects of climate change just about every householder will have to do something in the next few decades to play their part.
“Those who get on and do something soon will reap the benefits by finding that their homes sell for a premium. The enhanced value of a home should be taken into consideration when making the decision to go green. If you sell in the next 20 years the added value could be as much as you would get from a new kitchen or bathroom.”
Mr Simmonds said that in the past some properties lost value if solar panels were installed if they looked ugly or where the roof was leased to a solar company. Fear of maintenance costs by potential buyers and buyers not understanding how solar tariffs worked also led to less desirability.
With Electric Vehicle charging points increasingly in demand, more attractive solar installations, battery storage and wider understanding of the issues of climate change those valuing properties are now seeing premium prices being paid.
Mr Simmonds, who has been championing green energy since 2015 when he worked with green energy suppliers and started running a fleet of hybrid vehicles, says Parker’s Estate Agents in North Somerset is experiencing an uptick in interest in the way homes are powered.
He said: “Many householders in North Somerset have registered for a Solar PV scheme brokered by North Somerset Council with a deadline of November 26 to make a decision. They have been sent figures showing costs and likely savings from the scheme but these do not include the enhancement of value in a property because of installing solar panels.
“Every home in the region will need to look at its energy needs in the next 20 years. Many will want electric vehicle charging points; alternative heating methods to gas and oil will be required and the environmental footprint of every home will be talked about when it is for sale over and above the energy performance certificate (EPC).
“New home builders are already putting in solar panels and battery storage as standard and over the next few years demand will grow.
“The double-whammy of rising fuel costs alongside the environmental targets of the Government mean the financial calculations have changed. Costs of installing solar power have also fallen and the complex tariff systems that were used as incentives in the past are no longer so important.
“Of course you should install solar panels to be as aesthetically pleasing as possible and newer systems will always be more attractive than older ones. Doing something about the environmental credentials of your home has got to be better than having done nothing when it comes to selling. Buyers will just see more work and expense for themselves in the future and quite possibly consider an alternative property.”
Details of Parker's Estate Agents can be found at: www.parkers-ea.co.uk
