Given the weather bomb of the last few days and most of us staying at home with the heating on high, there's one thing I can predict with even more certainty than the Queen’s Speech broadcasting on Christmas Day - the arrival of my energy bills which will surely make my heart sink. Is there an alternative to this pain apart from moving to sunnier climes?
Well one option is installing solar panels on your property. There are two main types of solar panels. Some can save you money by converting the sun’s light into electricity. This can be used to power your home while excess electricity can be sold back to the National Grid.
Others heat your hot water and, yes, save you money on your bills too.
It’s generally estimated that the return on your investment is around 10 per cent over a ten year period. Plus it’s sustainable energy and that’s good for the environment.
At The Property Shop we’re often asked if investing in solar panels influences a property’s value. The answer isn’t clear-cut, it depends on the type and age of the solar panels. One thing I would say is a home with solar panels is a home with an added selling point, as the prospect of reduced energy bills is an attractive one to potential buyers.
If you think you may sell your property within five years of solar installation then possibly it won’t make financial sense to you in the short term.
However, if see your home as your castle for at least the next ten years or more it should represent money well spent.
Thanks for reading,