When investing in high end property one of the main considerations is often the security of the value of the house and ensuring that the location will remain desirable. However, a new consideration has come into play recently and that’s investing in the security of renewable energy in the home, be it buying it with, or buying it in.
Unless you are very green minded, not a lot of consideration is often given to upgrading to renewable energy technology when the time arises, however, when faced with purchasing a home that already has green products installed it should never leave you scratching your head.
Green technology is the way forward, so much so the Government’s Department of Energy and Climate Control (DECC) announced their domestic Renewable Heat Incentive (RHI) earlier this year. The world’s first scheme of its kind confirmed just how much money can be saved and made from installing renewable energy products so homeowners can now make accurate cost analyses for using and opting for a more sustainable fuel source and a lower CO2 way of living.
So how does this affect the price value of a home long term? Having the reassurance that the Government’s rates per kwh have been set and quarterly payments are paid back to the homeowner over a seven year period should offer some reassurance. What’s more, the rates are to be Retail Prices Index (RPI) linked so as traditional fuel prices continue to rise, homeowners with green technology installed will make further savings and pay lower fuel bills in the long term.
For a potential buyer having renewable technology already installed is a huge plus. Following the introduction of the Home Information Pack in 2007, which was later removed in May 2012, the requirement for Energy Performance Certificates (EPCs) remains. These EPCs calculate energy ratings of a property and present the findings on a scale of A to G with the most efficient homes being categorised as band A, having lowest fuel bills. With the introduction of the RHI, those choosing to buy homes with renewable energy products in situ should see their properties being positioned in the lower group categories based on the overall assessment of the house, which should interest buyers. Not only will the rating show that the annual heat use will be lower but in a larger property the financial gain will be higher too.
The great news is that homeowners now have a greater access to renewable energy products and technologies for the home which weren’t previously covered by the Green Deal and Feed In Tariffs. This not only means that the best technology can be chosen for each individual house but it also extends the offering to properties that are both on and off grid, offering more solutions and meaning space is not an issue. From stylish biomass boilers through to non-obtrusive solar thermal panels, there is a practical solution for every property.