Are you thinking of ways to increase the value of your property while also reducing your carbon footprint? Installing solar PV may be the perfect solution for you. Not only can it help you save money on your energy bills, but it can also increase the value of your property by up to 10%. In this blog post, we will explore the benefits of solar PV and how it can impact your property value.
What is solar PV?
Solar photovoltaic (PV) panels are made up of cells that convert sunlight into electricity. These panels can be installed on your roof or on the ground, and they can be connected to your home’s electrical system. The electricity generated by the panels can be used to power your home or sold back to the grid.
Benefits of solar PV
- Lower energy bills: By generating your own electricity, you can reduce your dependence on the grid and lower your energy bills. This can be especially beneficial if you live in an area with high electricity rates.
- Reduce carbon footprint: Solar PV is a clean and renewable energy source, which means it doesn’t produce any greenhouse gas emissions. By installing solar panels, you can significantly reduce your carbon footprint and help combat climate change.
- Increase property value: Studies have shown that installing solar PV can increase the value of your property by up to 10%. This is because potential buyers are willing to pay more for a home with lower energy costs and a smaller carbon footprint.
How solar PV can increase property value
- Energy savings: One of the biggest advantages of solar PV is that it can help you save money on your energy bills. This can be an attractive feature for potential buyers who are looking for a home that is energy-efficient and cost-effective.
- Government incentives: In many countries, the government offers incentives for homeowners who install solar PV. These incentives can include tax credits, rebates, and net metering programs. The availability of these incentives can make your property more attractive to potential buyers.
- Long-term investment: Solar PV is a long-term investment that can provide significant returns over time. The panels typically have a lifespan of 25 years or more, and they require very little maintenance. This means that potential buyers will see your property as a valuable investment that will pay off in the long run.
Here is an example.
| Domestic property example • System is a 5.7KWp array with 5 kW battery storage cost per unit of purchasing electricity from the grid is 35p kWw. • Solar PV is a Fixture and Fitting • The cost of Solar PV is £12,275With Solar PV • You will generate 87,450 kW of electricity at 11.2p kW over 25 years at a cost of £12,275Without Solar PV • to purchase 87,450 kw of electricity from the grid over 25 years would cost £52,163 • We have modelled a 4% year-on-year price increase for electricity purchased from the grid over 25 years • With the above in mind, Solar PV will add considerable value to your Real Estate • We believe with Solar PV the value of your Real Estate has a justifiable increase by a minimum of 10% • Ultimately you will assess the value of your property, but we have given you figures that will enable you to make your own judgement and justify our reasoning. | Commercial property example System is a 30KWp array with no battery storage cost per unit of purchasing electricity from the grid is 35p kW. •Solar PV is a Fixture and Fitting •The cost of Solar PV is £38,525With Solar PV •You will generate 585,000 kW of electricity at 5.8p kW over 25 years at a cost of £38,525Without Solar PV •to purchase 585,000 kw of electricity from the grid over 25 years would cost £330,288 •We have modelled a 4% year-on-year price increase for electricity purchased from the grid over 25 years •With the above in mind, Solar PV will add considerable value to your Real Estate •We believe with Solar PV the value of your Real Estate has a justifiable increase by a minimum of 10% •Ultimately you will assess the value of your property, but we have given you figures that will enable you to make your own judgement and justify our reasoning. |
Conclusion
If you’re looking for a way to increase the value of your property while also reducing your carbon footprint, installing solar PV may be the perfect solution for you. By generating your own electricity, you can lower your energy bills, reduce your carbon footprint, and increase the value of your property by up to 10%. With government incentives and long-term investment potential, solar PV is a smart choice for homeowners who want to make a positive impact on the environment and their finances.
