Households could save up to £641 a year on energy bills which could help ease the pressure of rising bills.
As the cost of living crisis continues, gas and electricity costs have caused a major strain on family finances since the pandemic everyone is looking for ways they can save cash.
Under the new energy price cap, the typical annual dual-fuel bill paid by direct debit is now £1,568 per year. Although bills are at their lowest for two years, they remain about £400 higher than they were three years ago.
Customers of all major suppliers such as British Gas, OVO energy, EDF, and Octopus Energy are urged to consider one upgrade which could help save on bills as well as increase the value of their home.
Experts have explained a way Britons can upgrade their home which will in turn result in huge savings being made.
New calculations from The Eco Experts have revealed London homeowners could save £641 a year on energy bills and add up to £98,000 to the value of their property with solar panels.
Although bills are at their lowest for two years, they remain about £400 higher than they were three years ago
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The increase in property value is mainly due to how much solar power can save homeowners on energy bills.
Solar panel owners can also sell surplus generation back to the grid through the Smart Export Guarantee (SEG) – bringing in even more money.
Those with a three-bedroom house in the UK, could save £482 per year on their energy bills from solar panels, and make £159 from the SEG – totting up to an annual saving of £641 a year, figures have shown.
By installing solar panels, households can increase the property value by 14 per cent on average.
According to Rightmove, properties in London had an overall average price of £697,620 over the last year, meaning London homes fitted with solar panels could see up to £98,000 added to their average property value.
Solar panels can be expensive to install, but experts say it is a worthwhile investment for those who can afford installation costs.
Roland Ellison, expert at The Eco Experts said: “With wholesale gas prices continuing to keep household energy bills at unaffordable levels for the foreseeable future, the case for switching to solar for your home has never been stronger.
“Even when you come to sell your home, if you’ve made the investment to reduce your energy bills in the long term, it will make your property a more attractive prospect for potential buyers, as they will benefit from lower energy bills without having to front-up the initial costs of installation.
“As anyone who has bought a house will know, the less you have to spend once you move in is something that you need to factor in.
“Long-term investments in energy-saving products like solar panels are a significant advantage to savvy house buyers. Not only will they lop a significant chunk off their monthly energy bills from day one, it’s also one less thing to fork out for further down the line.
“Make sure you check the age, warranty and maintenance costs of the panels installed before you make an offer.”