PROPERTIES with green energy technology are commanding premium prices as buyers look towards lower carbon emission targets, experts have revealed.
The cost of living crisis and falling house prices have created a cut-throat bricks-and-mortar market, with buyers able to be much fussier about what they want.
Top of the list are homes with good EPC – energy performance certificate – ratings and green energy sources such as heat pumps and solar panels.
A survey by estate agent Savills found that 71 per cent of buyers last year highlighted EPC stats and general energy efficiency as key to their decision making when it came to purchasing property.
Meanwhile, 59 per cent said they would pay more for a house boasting renewable energy sources that would lead to lower bills.
Ryan Harrison from energyadvicehelpline.org said: “Buying a home is normally a long-term commitment, so it stands to reason that you would want it to be as future-proof as possible.
“In much the same way as buyers looked for modern double-glazed windows and thick loft insulation, they are now turning their attention to the sources of energy and heating as prime factors in which property they purchase.
“Not only will this cut their energy bills in the short-term, which is hugely important at a time when domestic prices are rising at a horrifying rate, but it also means they won’t have to splash out on expensive new technology a little further down the line.
“So it’s no surprise that homes already kitted out with heat pumps, solar panels and decent insulation are attracting the most attention from buyers and proving the most popular.”
The Savills research found for homes warmed by heat pumps, the average price between 2019 and 2021 was £483,935.
That’s much higher than the average UK house price during that period, which ranged from £227,104 to £269,003.
A similar study by Scottish Power put the increase in the value of a home with a heat pump at around £8,600.
Mr Harrison said: “Heat pumps are highly efficient, generating up to 4 KW of heat from only 1 KW of electricity.
“As a result of their efficiency and renewable source of heat, they are an attractive alternative to traditional fossil fuel-based heating systems such as gas or oil.
“One of their biggest advantages is they are able to work effectively all year round.
“Unlike traditional heating systems that struggle to operate in very cold weather, heat pumps work even when temperatures are below zero.
“As well as being extremely flexible, heat pumps can also be integrated with other systems such as underfloor heating and radiators for a fully bespoke solution tailored to each property’s needs.”
Energyadvicehelpline.org is helping people discover any grants they can apply for to cut the cost of making their home more energy efficient.
These include the ECO4 Scheme, which started last year, that provides insulation, air source heat pump systems and the installation of solar panels for renewable energy.
It’s open to households where any resident receives a means-tested benefit – such as Pension Credit, Universal Credit, Housing Benefit, Child Tax Credits, Working Tax Credits, or other financial support.
Those with an annual household income below £31,000 can also apply in many areas of the UK.
