Nearly three million UK households are planning to install roof-mounted solar panels within the next five years, according to new research by comparison service Uswitch.com, with two-fifths saying that rollercoaster energy prices have made them more likely to invest in the technology.
The energy price gap has been predicted to increase by 13 percent (by £212) from 1st July, taking the annual bill for an average home from £1,641 to £1,853. This increase is due largely to rocketing wholesale energy prices amid the ongoing conflict in the Middle East.
Increased energy bills are likely to have an impact long past July. Energy rates are expected to remain higher through the autumn and winter, when households use much more energy for heating.
Two-fifths of households (38 percent) say reducing electricity bills is their main motivation for installing home energy generation like solar panels, while three in 10 (29 percent) want more control over rising energy costs.
Modern Eco-Friendly Home with Solar Panels (Image: D. Goug/Pexels)
Nearly 1.7 million households have already installed solar panels on their roof to bring down their energy bill, with 19,000 being added every month. UK homes have 6.6 GW of power installed, which is enough to run more than two million 3kW tumble dryers simultaneously.
One in three households (35 percent) are put off installing solar panels due to the upfront cost, while a quarter (23 percent) don’t know how long it would take to pay back, and one in nine (12 percent) don’t know where to find a reliable quote.
Consumers estimate that a typical installation might cost just under £9,000, but live data shows that an eight-panel system could be around half that at £4,650, or £7,875 with battery storage included.
Read more: Renewable Energy Magazine
