UK homes installed a record number of solar panels and heat pumps in the first half of 2023. With demand for renewable energy surging, new research has revealed the UK cities where properties would benefit the most from solar installations.
The team at BOXT have analysed where solar panels have added the most value to homes across UK cities, as well as revealing the potential energy bill savings from installing solar panels.
You can view the full study here: https://www.boxt.co.uk/news/guides/boxt-energy-report
The UK cities where properties benefit the most from solar panel installation:
|Rank||City||Average value of property||Average added value from solar panels||Total property value||Percentage increase in value|
Londoners could benefit the most from installing solar panels – with 13% added value, property prices could increase by £90,000. This is due to the high property value of the city, where houses cost on average £686,321.
Coming in second place, Bristol residents considering installing solar panels on their property will be happy to know the energy installation could add 14% to home value. Known to be the most populated city in the South West of England, Bristol is a great place to invest in solar panels as on average they add £45,142 to property values.
Rounding out the top three is Edinburgh. The city is not just a famous destination for sightseeing but it is also great for property investments. By adding solar panels to your property, the average value could increase by around £40,095.
The research also revealed the following:
- Brighton residents can benefit the most from solar installations in terms of energy savings. The sunniest city of all those profiled, the average electricity unit price of £0.29/kWh means Brighton residents could save £322.09 a year on their electricity bill by installing home solar panels.
- The average UK energy bill in 2022 was estimated to be £2,294 – a 72% increase and a price difference of £961 when compared to the average bill in 2021. Not only did the average standard electricity bill rise by 51% in 2022, but the average gas bill surged by 101%, making the combined electricity and gas bills the highest on record.
- East Renfrewshire prioritises renewable energy installations more than any other UK area, with a 31.1% increase in 2021.
- While Google searches for home heat pumps have dropped by 55.83%, searches for solar panels have multiplied. Searches for solar panel companies have increased by 89.23%, while home renewable energy systems have increased in popularity by 55.56%.