Property guru Phil Spencer has revealed he plans to install more solar panels on his house, as energy bills are forecast to jump again.
The Location, Location, Location presenter says his house in Hampshire, which he purchased several years ago after making the move out of London, already had solar panels installed when he moved in.
‘It was a real comfort to me to be able to be shown how much they generated per year, so I could see money coming in,’ he told This is Money.
‘I’m always encouraging people nowadays – it’s not just buying the house. You’ve got to live in the house, you’ve got to maintain the house, you’ve got to heat the house. There’s no question of doubt that energy is becoming more expensive.’
Solar and Battery Eco-system (Image: Fox-ESS.com)
According to research commissioned by Wickes, 15 per cent of UK homeowners currently have solar panels installed, while 53 per cent of current buyers will actively look for homes that rely in some way on solar power.
Against this backdrop, Phil, who is a Wickes brand ambassador, has weighed up installation costs versus ‘payback’ over the coming years on his own home.
He said: ‘I’m going to be in the house for 10 years, the solar panels will pay back in about seven – so it works.’
Phil’s advice follows warnings of more expensive energy bills this winter amid a drop in gas storage levels, causing a rise in the price of wholesale gas.
Despite the heatwave currently sweeping Britain, there are fears the cost of energy will rise sharply in the colder months due to a volatile market caused by war in the Middle East.
Read more: This is Money
