Landlords warned against solar panels
News Category: Industry News
Published: 05-Sep-2008
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Landlords should invest in wall insulation rather than solar panels to boost the energy efficiency of their residential lettings, it has been claimed.
According to the Royal Institute of Chartered Surveyors (Rics), solar panels do not offer as good return on investment, costing between £4,000 and £5,000 and only saving £24 per year on energy costs.
By contrast wall cavity installation can save a tenant as much as £145 on yearly energy bills, while costing a landlord as little as £440 to install.
Joe Martin of Rics said: "We all have a role to play in helping to reduce our carbon footprint, be it through changes to our behaviour or by choosing greener alternatives.
"The reality is, however, that most people struggle with the cost, time, and effort it takes to make these changes."
Figures from Paragon Mortgages released earlier this weekrevealed that nearly two-thirds of landlords have installed double glazing in their residential properties to help cut energy costs.
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