The installation of roof-mounted solar energy systems is boosting property values as prospective buyers appreciate energy self-sufficiency and reduced energy bills in the long run.
In the UK, the market value of houses with roof-mounted PV systems increases by an average of 32,459 pounds, or 36,000 euros, according to a study conducted by energy solutions company EffectiveHome.co.uk in ten major cities.
The impact of roof-mounted PV installations on property value was biggest in London, prompting price increases in excess of 90,000 pounds for properties worth the city’s average housing price level of 686,321 pounds, according to the EffectiveHome.co.uk study.
Bristol followed with a property price boost of 45,142 pounds for properties worth the city’s average property level of 322,444 pounds. In Edinburgh, the boost measured 40,095 pounds for the average housing price of 286,397 pounds. Leicester followed with a 31,577-pound price boost for the average housing price level of 225,552 pounds. In Manchester, the increase is 29,278 pounds for the city’s average housing price level of 209,134 pounds.
PV systems offer potential electricity bill savings of at least 27,500 pounds over a 30-year period, the study determined.
“With house prices currently experiencing a mini boom, it’s interesting to see what impact solar energy and benefits such as reduced energy bills and lowering carbon emissions is having,” noted Dan Graby, director at EffectiveHome.
The value of properties equipped with PV systems is expected to be particularly boosted in countries with abundant sunshine, such as Greece, as the world increasingly turns its attention to green energy solutions.
A third round of a subsidy program – worth 850 million euros – supporting energy efficiency upgrades of properties in Greece is expected to be open for applications in October.