Installing solar panels on a property can add more than £3,000 to its value, but the devices still cost more than double that figure to purchase and install. 

Interest in the eco-friendly panels has reached a five-year high as households have been hit by substantially higher energy bills. They will typically add up to 2pc to a house price, according to Solar Energy UK, a trade body. 

New figures collated for the Telegraph showed that a terraced house in London, which costs £553,729 on average, would see its value increase by between £1,070 and £3,110 by fitting solar panels. 

A £489,791 detached house in the South West would see a price jump of between £946 and £2,751, while a £231,679 semi-detached house in the West Midlands would see a premium of £1,594 to £2,428 added, the research found. 

Solar panel installation typically costs around £6,500, according to the Energy Savings Trust, more than double what it would add to a home’s value in the best-case scenario. 

Homeowners will typically enjoy lower energy bills after installing the devices, but those who do not plan to stay in their home for several years will likely lose money by fitting the devices, as they will not enjoy the benefit of cheaper bills.