Here’s a huge tip for property sellers! Energy comparison and switching site Uswitch.com has conducted research to find out whether new renewable energy installations could increase the value of your home. The good news is that they do. Let’s find out by how much value they can add and which areas in the UK have implemented the most renewable energy installations.
How much do renewable energy installations increase property value?
Uswitch has determined how much a property’s value can increase with renewable energy installations and the type of installation that offers the highest increase. Here’s what their research shows:
|
Most valuable investment ranking |
Type of renewable installation |
Increase in property value % |
Increase in property value £ |
|
1 |
Solar panels |
+14% |
£34,758 |
|
2 |
Insulation measures |
+6.4% |
£16,000 |
|
3 |
Ground source heat pump |
+5.4% |
£13,407 |
|
4 |
Biomass boiler |
+3.2% |
£8,000 |
The figures above clearly indicate that renewable energy installations can significantly increase property values, with solar panels considered to be by far the most desirable addition.
What are the top UK regions for renewable energy installations?
Uswitch revealed that Stoke-on-Trent has seen the highest increase in renewable energy installations in the last five years. Cornwall came in second place, followed by Stirling. Here are the findings in full:
|
Region |
No. of renewable installations 2015 |
No. of renewable installations 2019 |
Difference in 5 years |
|
Stoke-on-Trent |
3,126 |
5,832 |
+2,706 |
|
Cornwall |
16,238 |
18,546 |
+2,308 |
|
Stirling |
2,234 |
4,336 |
+2,102 |
|
North Lincolnshire |
4,660 |
6,087 |
+1,427 |
|
Aberdeenshire |
5,324 |
6,523 |
+1,199 |
|
Boston |
1,169 |
2,281 |
+1,112 |
|
County Durham |
7,725 |
8,828 |
+1,103 |
|
Nottingham |
5,240 |
6,335 |
+1,095 |
|
Northampton |
2,624 |
3,701 |
+1,077 |
|
Wiltshire |
8,643 |
9,639 |
+996 |
|
Leeds |
6,814 |
7,658 |
+844 |
|
Northumberland |
7,303 |
8,125 |
+822 |
|
Sunderland |
8,072 |
8,887 |
+815 |
|
Peterborough |
8,440 |
9,198 |
+758 |
|
Shropshire |
6,130 |
6,880 |
+750 |
How much does it cost to install a renewable energy system?
The best way to find out how much it costs to install renewable energy systems is to contact a reputable installer. It’s important that the installer be Microgeneration Certification Scheme (MCS) certified to ensure you get quality service and products.
A reputable installer should be more than capable of providing answers to all of your questions. They can also identify the features of the system you need and calculate how much it will cost.
Solar panels appear to offer the highest increase in property value, and Green energy supplier Greenmatch estimates that a single solar panel costs between £350 and £500, depending on the size and type of system. Most households utilise the 4kW solar panel system and require about 16 panels to cover around 29 square metres of roof. This could cost between £6,000 and £8,000.
What should you consider before installing?
Working with a reputable and certified installer makes everything more manageable since they should manage the process. However, it’s wise to note a few things.
Since you want the best deal, it’s important to get several quotes from different providers and installers. Comparing the cost makes sense, but checking out other things might also be wise. For example, will the installer handle everything or will you need to look for different contractors?
You may also want to consider your home insurance. Does installing a renewable energy system invalidate it? What about permits? The type of renewable installation may sometimes require getting planning permission or a building warrant from your local planning authority.
Lastly, don’t forget to check whether there are opportunities to save money. Search for government schemes that offer financial support or even incentives to install renewable energy systems.
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About the author
Victor is a freelance writer who loves to read and write about personal finance and related disciplines with the aim of educating people to make better financial and investment decisions.
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