In the ever-evolving world of commercial real estate, one word has been making a significant splash: Sustainability. More specifically, green energy. As we continue to grapple with the realities of climate change, businesses across the UK are seeking ways to reduce their carbon footprint and contribute to a greener future.
One of the most effective solutions to do this is Solar power. But beyond the environmental benefits, did you know that solar power could also significantly increase your commercial property value?
Simon Powell, Chairman of Welsh-based Solar installer InspireGreen said,
“Solar power is no longer a fringe concept. It's a mainstream solution, embraced by businesses large and small. The reasons are clear: solar power is renewable, abundant, and significantly reduces reliance on fossil fuels. But there's another compelling reason to consider solar power for your commercial property – it can substantially enhance its value.”
Dan Smith, Managing Director of commercial property experts, M4 Property Consultants commented,
“There is no doubt that occupiers (both tenants and purchasers) are more interested than ever than in the green credentials of a building. It is one of the first questions occupiers now ask. Solar power, particularly in the industrial sector with high electricity usage is a huge advantage. Whilst we haven’t seen sufficient evidence yet, we are confident that buildings with solar panels will attract higher values.”
Simon Powell continued to list how solar power could boost your commercial property value, his top points included:
Attracting High-Quality Tenants:
Businesses today are more environmentally conscious than ever before. They're not just looking for office space; they're looking for office space that aligns with their values. A commercial property equipped with a solar power system is a powerful selling point, attracting high-quality, long-term tenants who are willing to pay a premium for green energy solutions.
Reduced Operating Costs:
For businesses with extremely high power consumption, solar power may not fully eliminate your need to purchase energy from the Grid, but for the majority of the businesses we have dealt with to date, we have significantly offset large amounts of energy costs through the installation of solar. For commercial landlords, this reduction in operating costs can be passed on to tenants, making your property even more attractive. Plus, you can generate income by selling excess electricity generation back to the grid.
Future-Proofing Your Investment:
With the UK government committed to achieving net-zero carbon emissions by 2050, renewable energy is not just an option; it's an inevitability. By installing solar power now, you're future-proofing your property, ensuring it remains competitive and desirable in a rapidly changing market.
Solar power is more than just a green energy solution. It's a smart business decision that can increase your commercial property value, attract high-quality tenants, reduce operating costs, and future-proof your investment. As we move towards a more sustainable future, solar power isn't just a nice-to-have; it's a must-have.