"Solar panels add value to the house"

I wondered if anyone had actually found this to be true in practice.
It would be nice when doing the maths to hope that the ability to self-generate energy would be seen as a positive and worth a few bob, such that you'd be able to assume you'd get some cash back when you sold up.
In my experience buyers get anxious about anything they don't understand, and there's enough stories out there from Helms and the like to put people off. Might be good for 'the right buyer', but put others off.
Anyone have any direct experience of this?

Replies

  • jonesMUFCforeverjonesMUFCforever Forumite
    28.9K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    ✭✭✭✭✭
    First of all I will say that I do not have any on my house.
    If I was potentially buying another house with panels on - 1 I would want to know if they have been paid for fully - I would not touch with a bargepole a house with panels still on finance.
    2 How old are the panels and what is their life expectancy?
    3 How much do they generate annually - are you paying for any electricity and getting paid for your surplus or is it making just enough to reduce your bills?
    4 In the event of them not working what will the cost be to get them repaired or replaced?

    Without some hard facts and figures I cannot tell you if 2 identical houses were on the market 1 with panels 1 without - which I would choose.

    If you are asking me whether putting them on your house would mean your house valuation increasing by their cost - I would have to say no - just my opinion you understand.
  • JKenHJKenH Forumite
    2.2K Posts
    1,000 Posts Third Anniversary Name Dropper
    ✭✭✭✭
    There are about 1m houses with solar panels compared to say 20 million where they might have been fitted but aren’t. That tells a story - that the general public don't really think much to them. (I suspect the objection is mainly aesthetic.) There are numerous stories on here of people having issues selling their properties with solar panels fitted.

    I have solar panels on my roof and think they are great but I didn’t put them up thinking they will add value to the property. If I was buying a house I would prefer one with panels on and transferable FiT but I wouldn’t tell the seller that and I wouldn’t expect to pay any more for the house - in fact I would try and get a discount.
    Northern Lincolnshire. 7.8 kWp system, (4.2 kw west facing panels , 3.6 kw east facing), Solis inverters, Solar IBoost water heater, Mitsubishi SRK35ZS-S and SRK20ZS-S Wall Mounted Inverter Heat Pumps, Nissan Leaf (plus some ICEs:) )
  • PetriixPetriix Forumite
    823 Posts
    Fifth Anniversary 500 Posts Name Dropper
    ✭✭✭
    Solar panels (which are owned outright) are a valuable asset. Depending on the FIT rate they can provide a significant income. A potential buyer would have to be pretty ignorant not to understand that.

    I'm not planning to sell my house soon, but if I did then I would ensure it was marketed to highlight the environmental benefits of the improvements I've made. I think I'm stubborn enough to actually refuse to sell to someone who didn't get it.

    I think that estate agents are mostly pretty clueless about solar panels. I remember seeing a few properties on rightmove with solar panels in the photos but no details in the listing about the ownership or benefits. I would hope that awareness would improve over time.
  • michaelsmichaels Forumite
    25.6K Posts
    Part of the Furniture 10,000 Posts Name Dropper
    ✭✭✭✭✭
    In theory the future fit payments should have a net present value calculated by adding up the expected cashflows and discounting them to current values (not forgetting the FIT is index lined) so if I were buying I would factor this in to the house price - and then on top of that is the value of any own used electricity.  As mentioned above though, in negotiating on price the panels would be mentioned as a liability....
    I think....
  • mickyduck55mickyduck55 Forumite
    334 Posts
    100 Posts First Anniversary Name Dropper
    ✭✭
    I have panels, am delighted with them and Im on a good FIT which is over £2000 a year.  Given the choice of two properties I would buy the one with panels provided they were owned outright.  As stated above though I don't think I would pay more for them as a new install is not expensive when factored into a house purchase
    3.995kWP SSW facing. Commissioned 7 July 2011. 24 degree pitch + Solar Immersion installed May 2013, after two Solar Immersion lasting just over the guarantee period replaced with Solic 2000... no problems since
    13 Feb 2020 LUX AC 3600 and 3 X Pylon Tech 3.5 kW batteries added...
Sign In or Register to comment.
Latest MSE News and Guides

A guide to council tax bands

Lower your band & save £1,000s

MSE Guides

Cinema MoneySaving tips & tricks

Including year's 2for1 movies for £1

MSE Deals