In todays economy, it’s crucial to ensure your income is protected. Whether this is through insurance, or a side hustle, you must ensure that you can continue to pay the rising bills from utility companies and your mortgage (that is about 6% at the moment!). Here are two ways that UK Landlords can generate an income by using solar energy;
Selling Electricity Back to the Grid
In the UK, the government has introduced schemes like the Feed-In Tariff (FIT) and the Smart Export Guarantee (SEG) to incentivise homeowners to generate renewable energy. With FIT, you can earn money by selling the excess electricity your solar panels produce back to the grid. SEG offers a similar benefit, ensuring that you get paid for the electricity you export to the grid. These financial incentives make solar panels not only eco-friendly but financially attractive.
Once your solar panels are installed, it takes seconds for them to start generating energy. You then need to speak to your electricity provider to sign up to the SEG or FIT to ensure any excess electricity is contributing to your income.
Increasing Property Value with Solar Panels
Solar panels are an attractive feature for potential homebuyers. Properties equipped with solar panels tend to have higher market values and often sell faster than those without. Moreover, they signify that the home is energy-efficient and environmentally responsible, which can be a significant selling point. In 2020, searches for homes with solar panels were at spot 500 in Rightmove’s key word research. In 2022, this keyword has risen to spot 98. A similar story for the keyword ‘heat pump’ which has risen from spot 1,000 to 190 in the same timeframe. The desire for green homes is there, take advantage and make your home irresistible for future buyers.
It’s even better for older more energy profligate properties. Rightmove claim that improving your property from an F to a C would increase your properties value by 16%.
It gets better if you’re thinking of selling anytime soon, more energy efficient properties are actually selling quicker for the first time!
‘Let’ there be Light
The UK government has announced that beyond 2028 properties must be an EPC C or above to be privately let in the UK. This means that adding solar panels, and even heat pumps and other green features not only make financial sense for your resale value, but it’s soon to be the law.
Installing solar panels doesn’t have to break the bank either, our average repayment plan is less than £100 per month. Our customers are also finding that they are finding they are generating enough energy to make their solar panels net positive within 5 years.
It makes perfect sense to protect the biggest investment in your life, and your income for years to come. Install solar panels and ensure you never have to go without free electricity, and a steady income for 25-35 years.
Click here to get a quote to find how much you could save from your energy bills today.
