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Can Solar Panels Add Value To My Property?

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Can solar panels add value to my property?

Yes, they could. A YouGov survey from 2009 found that real estate buyers ranked energy-efficiency as the third most important reason to buy a residence, just behind an outdoor space and recent Switch research showed that solar panels were the fourth most essential consideration for potential homeowners.

Costs?

The average home solar PV program is 3.5 to 4kWp and costs around £7,000 (including VAT at 5%), with the common cost which range from £5,500 to £9,500.

Costs have dropped considerably over the last year. They differ between installer and products, so we suggest getting quotations from at least three installers. Guidance in discovering an installer.

Other factors that impact PV installation costs are:

 The more electricity the program can generate, the more it costs but the more it could save.

Larger systems are usually more cost-effective than small systems (up to 4kWp).

PV panels are all around the same cost per kW, but PV tiles cost much more than a common system made up of panels.

Panels build into a roof are more costly than those that sit on top.

Savings?

A 3.5kWp program can produce around 3,000 kw hours of electricity a season – about 75 percent of a common household's electricity needs. It will save over a tonne of co2 every year.

If your system is qualified for the Feed-In Tariff Scheme it could generate savings and earnings of around £645 a season. You will get compensated for both the electricity you generate and use, and what you don't use and trade to the grid. When implementing for FITs you will need to demonstrate proof of your home's Energy Performance Certificate and this will impact what tariff you can get.

If you know your system dimension, you can get a tailored estimate for your program using our Solar Energy Calculator.

Should I go for free solar panels, or should I buy them outright?

Buy your own if:

You have £2,500-£15,000 available to invest.

You want to generate income. With a Feed-in tariff you could earn up to £455 a year for producing your own electricity and selling the excess you don't use back to the Grid. Over 20 years your solar panels could earn you up to £12,819* - tax 100 % free and index-linked over 20 years.

You want to make long-term benefits on your energy bills. Energy costs will go up over time, so the amount your solar panel save you will go up too. In fact, eight in ten of those with solar panels (78%) installed them to protect themselves against future energy price rises. *

Get free solar panel if:

You don't have the initial money to get, and aren't able to secure solar panel loan.

You'll be happy to just make benefits on your electric bill. You won't make any money from Feed-in Tariff with these Schemes, but you will still save up to 50% of your electric invoice.

You're worried about ongoing servicing costs. Maintenance is included in free solar strategies.

You want to create long-term benefits on your energy expenses. Energy prices will go up over time, so the amount your solar panels save you will go up too.

How can companies afford to offer free solar panels?

In April 2010, the government introduced the Feed-in Tariff as part of a drive to reduce carbon emissions in the UK. With the Feed-in Tariff you get paid for producing your own renewable energy.

The company will take the money your solar panel generate from the Feed-in Tariff to recoup its investment.
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