Buying Home With Solar PV/Thermal Panels

TrickyDicky101

When we had Solar PV installed we did so without expectation of it adding to the value of our house (we also assumed it wouldn't detract as they are fitted on the rear of the house and generate FIT which we would assign to any purchaser).

[Deleted User]

anselld wrote: »

Paid for is fine. Green Deal certainly is not! Green deal ties future owners to stupidly high interest loan paid for through energy bills. It negates a lot of the benefit of PV/thermal.

Where would you get a cheaper loan for installing solar PV?

anselld

DELETED USER wrote:

Where would you get a cheaper loan for installing solar PV?

From the bank.... but that isn't the point; I wouldn't take on someone else's second-hand high-interest loan when buying a house and I wouldn't expect someone else to take mine (if I had one!).

solarpvman

whambam wrote: »

Hi,

Has anyone sold or rented out a property with solar panels or solar thermal panels? Would you pay more for an energy efficient home?

there are 2 parts to your question
1. energy efficiency. solar panels are not really an energy efficiency factor - unlike insulation. I guess I would pay more for a properly insulated home as it would save a lot of money every year and add to comfort levels. Whether that is true of everyone I doubt.
2. Solar panels can belong to the property or to someone else. If they belong to the property then there is certainly a significant value that would be added to the property as the panels are likely to generate thousands of pounds over the remainder of the FIT lifetime and reduce energy consumption a little after that...a LITTLE. So the value is in the remainder of the FIT contract and of course the number of panels (installed generating capacity).

Davesnave

solarpvman wrote: »

2. Solar panels can belong to the property or to someone else. If they belong to the property then there is certainly a significant value that would be added to the property as the panels are likely to generate thousands of pounds over the remainder of the FIT lifetime and reduce energy consumption a little after that....

While the benefits are not in dispute, the value added is surely in in the eye of the beholder, and a significant % of people dislike or distrust them.

So, they're just not valuable in the same way as an extra bedroom would be.

[Deleted User]

anselld wrote: »

From the bank.... but that isn't the point; I wouldn't take on someone else's second-hand high-interest loan when buying a house and I wouldn't expect someone else to take mine (if I had one!).

You would be hard pressed to beat the ~7% available on the Green Deal for a loan under 5k. Over 5k, sure, but that would be a pretty large solar PV system.

The Green Deal loan is supposed to be less than the amount you save by having the solar panels installed, and doesn't affect your ability to get other loans or credit rating like a bank loan would.

ed110220

Davesnave wrote: »

While the benefits are not in dispute, the value added is surely in in the eye of the beholder, and a significant % of people dislike or distrust them.

So, they're just not valuable in the same way as an extra bedroom would be.

Well perhaps this is to be expected, given that an extra bedroom would cost a lot more than £5-6000 ;-)

Davesnave

ed110220 wrote: »

Well perhaps this is to be expected, given that an extra bedroom would cost a lot more than £5-6000 ;-)

I didn't say, "as valuable."

I wasn't making a direct monetary comparison, just choosing something that most people would agree, adds value.

There is no such agreement on PV.

anselld

DELETED USER wrote:

You would be hard pressed to beat the ~7% available on the Green Deal for a loan under 5k. Over 5k, sure, but that would be a pretty large solar PV system.

The Green Deal loan is supposed to be less than the amount you save by having the solar panels installed, and doesn't affect your ability to get other loans or credit rating like a bank loan would.

The real interest rate is much higher due to admin fees...
http://www.which.co.uk/energy/creating-an-energy-saving-home/guides/the-green-deal-explained/green-deal-finance---paying-for-the-green-deal/

Payback on PV is already 7-8 years if self funded so it will be much longer under GD finance. I wouldn't do it and I wouldn't buy someone else's second hand GD loan.

Martyn1981

TBagpuss wrote: »

I'd be unlikely to pay extra for panels - and I would be looking very carefully into whether and how much they would effect buildings insurance costs.

Only a minor point, but panels should have no effect on your insurance. Obviously you should inform your insurer if you have them installed, but the only costs I've ever heard of have been admin fees (~£15) for amending a policy during the term, but even that is very rare.

The panels are then covered in the same way that your roof structure is, wind damage, vandalism, theft etc etc.

Mart.