Moving Home With Solar Panels
It’s not as difficult as you might expect! Don’t let the prospect of moving put you off the benefits of solar – and you don’t need to wait until your ‘forever home’ either.
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How to Navigate Selling With Solar
Considering solar panels but worried about not staying in your current home for the next seven years? Many homeowners share your concern about the implications of selling a house equipped with solar panels.
Questions about the value they add to your property, the complexity of documentation, and potential buyer apprehension can seem daunting. However, these worries are often unfounded. Solar panels can increase your home’s appeal and offer attractive financial incentives. This guide will help you understand how to navigate these concerns, ensuring that your investment in renewable energy is a smart and seamless journey.
Top 3 Concerns Answered
Do Solar Panels Add to the Value of Your Home?
Absolutely! A 2023 survey of over 2,000 UK homeowners revealed that 69% of respondents are either ‘likely’ or ‘very likely’ to buy or rent a property with solar panels, while only 4% would be ‘very unlikely’ to consider it. This trend is poised to grow as electricity prices rise and the UK’s electricity consumption increases with the adoption of heat pumps and electric vehicles.
Solar panels not only make properties more attractive to buyers but also boost their value. For the average home, installing solar panels can improve the Energy Performance Certificate (EPC) rating by at least one grade. Higher EPC ratings correlate with higher property values; for example, research from last year found that upgrading a property’s EPC from D to C typically increases its value by 3%, – that’s just over £11,000!
Do You Need to Pay Off Your Solar Panels Before Moving Home?
No, you don’t need to pay off your solar panels before moving home! Start by contacting your solar installer well ahead of your move. They will provide you and the new homebuyer with everything needed, including an up-to-date proposal detailing annual savings and export income, along with all relevant system documentation. They’ll also run an eligibility check on the new homebuyer and supply your conveyancer with all the necessary information to complete the process.
Alternatively, you can include the value of your solar system in your home’s sale price and make a full early repayment either before the sale or using the proceeds from the sale. There are no additional charges or hidden fees, and you won’t need to repay any future interest or maintenance fees. If the system is sold with the home, the new homeowner would own it outright and immediately start benefiting from energy bill savings.
Can I Take My Solar Panels With Me When I Move?
Yes, you can take your solar panels with you when you move, but it might not be the most cost-effective option.
The process involves significant expenses, including scaffolding and labor costs for both removing and transporting the system to your new property, followed by additional scaffolding and labor costs for reinstallation. These combined expenses can approach the cost of purchasing a new system altogether. However, the choice is yours. If you decide to move your solar panels, it’s important to make sure that the process does not affect your guarantee.
Moving Home With Solar Has Never Been Easier!
Together, Loop and our trusted partners Sunsave are making solar simple. That includes the process of selling your home with solar panels – because you don’t need to wait until your ‘forever home’ to enjoy the benefits of free, clean energy!
When you install through us and decide to sell your home, you won’t face any hidden fees or complications like a roof lease, which have historically posed problems with mortgage providers. This ensures you have complete freedom to sell your home whenever you choose!
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