Despite a record year for green energy installations in 2023 and the expected housing market uptick due to reduced mortgage rates, prospective buyers need more support to identify eco-friendly options in decision-making.
Given the sharp rise in energy bills over the past two years, many home-seekers have increased interest in their energy consumption and are looking for ways to be more energy efficient. iChoosr’s recommendations for these additions to property sites come as the latest figures show 190,000 UK homes installed solar panels last year – the highest number of installations since 2011 and the company is keen to see more support for prospective buyers going forward.
Recent data also reveals that 69 percent of British adults say they would buy a property with solar panels, rising to 74 percent of Gen Z and Millennials. In fact, three in five UK homebuyers would be willing to pay more for a property with renewable energy sources.
“The spike in solar panel adoption in 2023 was driven, in part, by the cost of living crisis and rising energy bills” said George Frost, UK Country Manager at iChoosr. “But there has also been a significant mindset shift on installing renewable energy sources by UK homeowners and home-seekers. There is now a near-on consensus across the UK that we are knee-deep in a climate emergency, demonstrating the urgent need for the transition towards renewable energy. Homeowners are more likely than ever to invest in effective and sustainable solutions to improve their home now. Schemes like Solar Together make solar panels affordable and accessible for anyone to reap their environmental and financial benefits. It feels as though estate agents and property search sites are missing a trick by not reflecting homebuyers’ enthusiasm to adopt modern green energy sources. It would be great to see estate agents take heed and add green energy sources like solar panels and heat pumps as a criterion on their websites to help homebuyers navigate the different energy options available.”
Not only do solar panels help reduce residents’ energy usage, but investing in solar panels can increase a property’s value by up to £2,722, future-proofing it for the market and making it more appealing to buyers who are seeking a sustainable home. Plus, adding a supporting solar battery allows residents to store the electricity produced, maximising utilisation and reducing carbon footprints by up to 15 percent. On average, those with a three-bedroom property with a solar panel system and a 5 kWh battery will save £669 per year on energy bills.
iChoosr partners with local authorities to deliver the highly successful Solar Together programme across the UK. Solar Together has delivered more than 29,300 solar panel installations, which are expected to remove 600,000 tonnes of carbon emissions over the next 25 years.
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