Solar panels can be a top selling feature for homes today thanks to the energy efficiency and money saving benefits.
But home buyers who include solar panels on their list of ‘must-haves’ are being warned to check they are included in the fixtures and fittings before they make an offer.
Research from Direct Line Home Insurance found 58% of people think solar panels would make property more attractive.
But more than half (52%) of homeowners would take their solar panels with them when moving – meaning it’s not guaranteed they will be part of the property package.
Dan Simson, head of Direct Line Home Insurance said: “The benefits of installing solar panels are clear, from helping homeowners save money on their monthly electricity bills, to decreasing their carbon footprint. However, their price and installation costs remain an obstacle to many.”
He added: “Whilst many people would prefer to buy a home with solar panels installed, our research shows that there is still some confusion about whether solar panels are included as standard when buying a home.
“If prospective buyers want the solar panels to be included as part of the purchase, we recommend they discuss it with their conveyancer who can request that the panels remain as a condition of the sale.”
It is also recommended buyers clarify with the seller whether solar panels are included to prevent any misunderstandings before proceeding with conveyancing.
The cost of installing solar panels and savings you can make
Despite the advantages of solar panels, more than two thirds of homeowners have no plans to invest in them, citing the high cost as the main reason.
Direct Line said solar panel costs range from £6,000 to £10,000 depending on which system is installed.
Nearly four out of five households with solar panels reported they had saved money on their energy bills as a result of installing them. Direct Line said these savings amounted to an average of £264 per year, but some made more than £480 per year.
The government has introduced several schemes to provide funding and support to those who want to install solar panels in their home, this includes the Energy Company Obligation scheme.
There are also an increasing number of ‘green’ mortgages available for people buying homes with energy efficiency features such as solar panels. Plus Nationwide recently launched a 0% loan for customers making green upgrades.
