As the UK enters its peak solar season, homeowners are witnessing a significant advantage with the integration of Photovoltaic (PV) panels and battery storage systems. This period, characterised by high solar generation, presents an ideal time for households to optimise their energy consumption and explore lucrative energy trading opportunities. National Grid reported that the highest solar generation to date in the UK was on April 20, 2023, reaching 10.971GW, with expectations set for new peaks following last year’s addition of 1.3GW in solar PV capacity.
The expansion of solar capacity to 15.8GW across nearly 1.5 million installations as of March, primarily household systems, aligns with a surge in domestic installations. In 2023 alone, 191,524 new Photovoltaic (PV) panels and battery storage systems were installed, with 172,000 of those being domestic.
Solar panels installed for Mr TG in East Finchley, London (N2)
This boom is further bolstered by the rapid increase in domestic battery storage installations, which rose by 700% year-over-year as of March, according to the Microgeneration Certification Scheme. A significant factor in this spike is the implementation of zero VAT on storage systems from February 2024, making energy storage more affordable and encouraging more homeowners to retrofit batteries alongside their solar systems.
Emerging financial opportunities for homeowners with battery storage
The potential for financial gains is substantial for those who can sell excess energy back to the grid and engage in energy markets that reward flexibility. These markets, managed by entities such as the National Grid and local grid operators, offer services like the Balancing Mechanism and frequency response, with National Grid projecting balancing costs for the summer to reach £1.32 billion.
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