Despite the unprecedented surge in green energy installations in 2023 and expected growth in the housing market due to decreasing mortgage rates, prospective homeowners still face challenges in identifying and selecting environmentally friendly options.
A recent analysis released today uncovers a critical shortcoming in the UK’s property industry: none of the leading 10 estate agent portals or key property aggregator platforms, including Rightmove and Zoopla, provide a feature to sort listings by energy efficiency. This insight is according to a study by iChoosr, an entity committed to promoting renewable energy adoption.
Amidst a dramatic increase in energy prices over the previous two years, a heightened interest in energy efficiency is evident among those searching for homes. iChoosr’s suggestion to incorporate these options into property websites is supported by the latest data, which shows that 190,000 UK homes installed solar panels in the past year – the most since 2011. The organisation is keen to see enhanced support for homebuyers moving forward.
Recent findings also indicate that 69% of British adults are inclined to purchase a home with solar panels, with this preference rising to 74% among Gen Z and Millennials. Additionally, 60% of homebuyers in the UK are willing to invest more in properties that feature renewable energy sources.
George Frost, UK Country Manager at iChoosr, states: “The spike in solar panel adoption in 2023 was driven, in part, by the cost of living crisis and rising energy bills. But there has also been a significant mindset shift on installing renewable energy sources by UK homeowners and home-seekers. There is now a near-on consensus across the UK that we are knee-deep in a climate emergency, demonstrating the urgent need for the transition towards renewable energy.”
“Homeowners are more likely than ever to invest in effective and sustainable solutions to improve their home now. Schemes like Solar Together make solar panels affordable and accessible for anyone to reap their environmental and financial benefits. It feels as though estate agents and property search sites are missing a trick by not reflecting homebuyers’ enthusiasm to adopt modern green energy sources. It would be great to see estate agents take heed and add green energy sources like solar panels and heat pumps as a criterion on their websites to help homebuyers navigate the different energy options available.”
Moreover, the investment in solar panels not only aids in reducing household energy use but can also raise a property’s market value by around £2,722, ensuring its appeal and sustainability for future buyers. The addition of a solar battery allows for the optimal use of generated electricity, cutting carbon footprints by about 15%. Typically, owners of a three-bedroom house with a solar panel setup and a 5 kWh battery experience an annual energy bill saving of £669.
iChoosr works in partnership with local governments to conduct the highly effective Solar Together initiative across the UK. This programme has led to the installation of more than 29,300 solar panels, projected to cut carbon emissions by 600,000 tonnes over the next quarter-century.
