Will bifacial solar panels increase the value of my home or business property?

Bifacial solar panels can increase the value of your property in the UK, although the specific increase might depend on various factors such as the type of property, location, and overall market conditions. Generally, solar panels, including bifacial models, have been shown to enhance property values, primarily due to their energy-saving benefits and environmental appeal.

Background on Bifacial Solar Panels

Bifacial solar panels are designed to generate electricity from both the front and back sides, increasing their energy output compared to traditional monofacial panels. This dual capability makes them a potentially valuable asset for property owners looking to increase energy efficiency and reduce electricity bills.

Impact on Property Value

Recent studies have demonstrated that solar panels can raise property values in the UK. For instance, a study from Swansea University found that properties with solar panels can see an increase in value by between 6.1% and 7.1%. This increase is attributed to the reduced energy costs and the appeal of renewable energy systems to potential buyers.

Practical Considerations for Homeowners and Businesses

Pros of Bifacial Solar Panels

• Increased Energy Output: Bifacial panels generate more electricity, potentially reducing utility bills further.
• Environmental Benefits: They contribute to a reduced carbon footprint, appealing to environmentally conscious buyers.
• Potential for Higher Property Value: The presence of solar panels, including bifacial models, can enhance property attractiveness.

Cons of Bifacial Solar Panels

• Higher Initial Costs: Bifacial panels are generally more expensive than monofacial ones, though their costs are decreasing.
• Complex Installation: Optimal placement is crucial to maximize the benefits of bifacial technology.

Key Advice

• Optimize Installation: Ensure panels are installed in locations that maximize their dual-sided potential.
• Consider Market Conditions: The property market can fluctuate, so consider current trends when evaluating potential value increases.
• Government Incentives: Take advantage of government incentives like the Smart Export Guarantee (SEG) to offset costs.

Avoid Common Mistakes

• Inadequate Placement: Failing to consider the reflective surface underneath bifacial panels can reduce their efficiency.
• Overlooking Local Policies: Not using tax benefits, such as the 0% VAT rate on energy-saving materials, can miss out on cost savings.

Overall, bifacial solar panels offer a compelling option for property owners seeking to enhance their energy efficiency and property value, especially when installed and maintained effectively.