Solar Power is Reshaping the Property Market 

The increasing awareness of solar power and its benefits to our planet and our pockets has been remarkable in the last few decades. In fact, the property market continues to change shape as the shift to adopt renewable energies grows in residential properties and commercial buildings alike.

From new-builds and older homes to offices and sports clubs, the value of installing solar power is as much economical as environmentally efficient. Having solar panels installed enables homeowners and businesses to cut bills and conserve energy in properties. Plus, there are dynamic cost-effective systems in place to encourage people to make all types of buildings run more sustainably. This is true whether solar power is installed at the first phase of construction or when a period property is retrofitted and modernised to meet sustainable property guidelines that will help the country reach its 2050 housing targets. 

This article explores the evolution of solar power and its impact on the property market, and why solar energy is more accessible than ever before.

Rise in demand for solar-powered properties

The growth of solar power in the UK has been impressive over the last few decades. Gone are days of cautious adoption, where concerns about cost and perception as high-tech hindered its mainstream integration. Now, there is a strong desire among property professionals and homeowners, to invest in renewable energy systems for both commercial and residential properties. Today, solar power is widely viewed as an affordable and practical solution. Housing developments are increasingly being designed to meet energy-efficient goals, benefiting from renewable energies, smarter technologies, and greener solutions.

The Government’s pathway to reach zero-carbon emission targets by 2050 has facilitated this rise in demand for solar energy, supporting the need to build eco-friendlier properties. This sustainability agenda has been carved out to win public consumers, architects, and property developers to implement sustainable designs and greener technologies in every type of property. Indeed, Environmental Ministers have added their weight by asking for legally-binding targets (within the EU’s 2030 Climate and Energy Framework) to focus on improving energy-efficiency across the commercial building sector. 

Likewise, estate agents are promoting the added value of installing solar power to homeowners and advising landlords to address energy-efficiency across their rental portfolios. In essence, this is to reap the multiple benefits of solar polar, which include:

• Tackling the rising cost of energy
• Boosting the value of your house/commercial asset
• Lowering power bills and source of power
• Increasing returns on investment
• Benefiting the environment and communities
• Relieving energy dependence.

Take advantage of the falling cost of solar energy

Another key factor driving the uptake in solar power has been the fall in the cost of PV panels and installation. The cost of solar power has continued to fall over the last 10 years, allowing this renewable energy source to become far more accessible. This trend is expected to continue thanks to further reductions in solar prices due to tech advances, innovations, and improvements. Enhanced panel technology, new manufacturing methods, and layouts, for instance, are some reasons behind the reduction in the cost of solar panels in the UK. Over the past 10 years, more effective panel designs have emerged that use fewer overall resources.

With lower prices, rooftop solar has surged in popularity for homes and commercial buildings. More UK homes and commercial units are opting for rooftop solar installation. For new build properties, integrating solar PV is also becoming standard practice. Across the spectrum of properties, businesses are seeking to make offices and workplaces more environmentally conscious while community centres and homeowners are exploring the economical and planet-friendly benefits of solar energy. 

Benefit private residences and business premises

If you have decided on the solar energy, you need for a specific property you can reap the benefits of solar power in your personal home and on your business premises. For private homeowners, adding rooftop solar panels brings the array of benefits mentioned plus households can generate their own renewable electricity and again, reduce grid dependence. Smart meters and reliable batteries allow solar energy to be stored and used on demand. This equates to substantial savings on electricity bills - income protection that is increasingly vital amid the cost-of-living crisis.

Businesses can benefit from reputational gains of solar installation which demonstrate a commitment to reducing their carbon footprint. Shops, offices, hotels, and industrial units that can produce their own power, can then feed surplus energy back into the grid, conserve energy, and save money to reinvest in other areas of their business. In addition, by also investing in battery storage, companies, and commercial operations can use solar energy at peak times for additional cost savings. Solar panels on rooftops, in gardens, parking garages, and open spaces, for example, allow businesses to generate their own renewable electricity. 

Social housing providers are also embracing solar schemes. Housing associations have invested in communal PV systems, enabling tenants to access cheaper and greener power. Retrofitting older residential houses is also helping to lift families in the UK out of fuel poverty. Likewise, shared ownership and community-led projects are a fantastic way of creating solar solutions for people lacking funds or owning unsuitable roofs.

Improve EPC rating and add value to rentals

UK landlords under the guidance of Government regulations are realising the added value in respecting and understanding Energy Performance Certificates (EPCs). EPCs have evolved to become an important framework for promoting and improving energy efficiency within the UK rental market. For buy-to-let investors and commercial landlords, installing solar can boost property value by attracting tenants via lower energy costs. 

House builders too, have a key role to play in promoting renewable technologies to ensure new developments maximise solar power now and in the future. Pre-installing PV roofs, cables, and battery storage at the build stage does a lot to make adding solar installations easier for homeowners down the line. Sustainable homes with energy-efficiency measures sell faster, enabling developers to command higher prices. This solar-powered movement is, therefore, having a transformative impact on the UK's property market which is a positive and progressive stance to have when it comes to tackling climate change. 

Understand when and how to go solar 

With better knowledge, awareness, and education across the generations about solar energy, the first choice is not whether to install solar power options in your building but when to. It might make sense if you are upgrading or renovating your home to install solar panels in consultation with your architect, developer, designer, or builder early on or when you’re retrofitting a building. Across the private and public sector, schools, hospitals, community halls, and council buildings can benefit from solar panels to shrink their carbon footprint. 

The second line of thinking will be where to install solar in a particular property as well as understanding the size or number of panels needed, which chargers to use, or any accessories required, and any other products you might need. Such questions about solar energy are relevant whether it's your own residence or a commercial property. 

The solar transformation of the UK property market looks set to continue as costs fall further. For homes and businesses alike, solar PV is becoming the technology of choice for harnessing the power of the sun. Businesses believe in backing solar power and believe that it should be accessible to benefit everyone who wants to play a part in creating a better future.