Some landlords may be breathing a sigh of relief at PM Rishi Sunak's recent announcement that residential landlords will no longer be required to have a minimum EPC rating of "C" from 2025. It's estimated that this policy decision will impact 65% of current privately renting landlords. However, it's important to highlight the many benefits that increasing your property's EPC rating bring despite the legal deadline being lifted.
What is an EPC Rating?
Brought in in 2007, EPC ratings are a measure of a properties energy efficiency, and a good EPC rating is a huge bonus when buying or selling a property, and a guide for future tenants and buyers as to how much it will cost to run the property which has the potential to significantly increase a property's worth on both the purchase and rental markets.
EPC ratings are also a way to indicate a home's environmental credentials. With a property rated "A" having a significantly lower carbon footprint than a property with a lower rating. In 2018 the government brought in a minimum EPC rating of "E" for newly rented properties, both helping to accelerate the UK's Net Zero ambitions, as well as ensuring a basic standard of energy efficiency for tenants to help keep energy bills low.
It was expected that this minimum EPC rating would be increased to "C" by 2025, but the government have recently rowed back on this pledge. However, it's always well worth boosting your property's EPC rating as this increases its value, lowers running costs, and increases the rental value. It is estimated that increasing your property's EPC rating by two (eg. an "E" to a "C") can increase its value by as much as 10%.
How Can Solar Increase Your Property's EPC rating?
There are a number of options, of which solar is just one, including upgrading your boiler, getting wall insulation, or installing a heat pump. The key thing about solar is that a standard 4KW install is guaranteed to boost to your EPC rating by up to 15 points, especially if your property already rates highly, it can easily be enough to push your property up a band.
This is especially true if your property already has a high rating, as the bands get thinner the higher you go up the scale. So Band "A" encompasses a 92-100 rating, just 8 points, but band "E" encompasses 39-54, 15. If your property has a high "C" rating, a Solar PV and battery system alone can be enough to push it into band "A" with those 15 points.
For information on how Spirit Energy can help you improve your properties EPC rating, give us a call on 0118 951 4490 to talk to a member of our of our friendly, technical sales team today. Or if you'd prefer email email@example.com or use the request a quote button below.