Cost savings make solar panel homes more attractive to buyers

A majority of British homeowners want solar panels installed due to the substantial annual energy cost savings they deliver, new research from Direct Line has found.

58% of Brits believe PV solar and battery storage systems add value to a property and make them more attractive to prospective buyers. 

And around a third are actively looking to install solar panels in the near future.

Direct Line’s study found there are significant cost savings involved.

By absorbing sunlight and generating direct current electricity, high-quality panels connected to an inverter can meet the energy needs of even the largest households.

This translates to lower electricity bills and average savings of up to £480.

Eight in ten households say their energy bills plummeted after installing solar panels.

Direct Line Home Insurance head, Dan Simon, says it’s now obvious Brits have a preference for purchasing solar properties.

He noted: “The benefits of installing solar panels are clear, from helping homeowners save money on their monthly electricity bills, to decreasing their carbon footprint.”

The desire for solar panels is translating into record installations too.

New, separate data from Barbour ABI found solar panel applications have soared 300+% during the last four years.

It follows the news earlier this year that 50,000 households across the UK installed pv solar in Q1 2023, which is the highest figure since 2016.

The Direct Line survey did find one area of confusion though.

Around half of homeowners said they want to take their solar panels with them when they eventually move out.

In contrast, 25% want to bank the additional equity solar panels provide via a higher sale price.

Mr Simson also urged the government to offer more funding and support to help more homeowners purchase solar panels.

How much could you save?