New analysis reveals that solar panel installations on homes experienced a seven-year high in 2023, marking a substantial increase.
Record-Breaking Statistics
In 2023, over 161,494 new solar panels were installed on homes, indicating a significant 44.6% increase compared to the 111,713 installations in 2022. This surge, highlighted by Coventry Building Society’s analysis of government figures, marks the highest level since 2015.
Driving Forces: Energy Bills and Environmental Concerns
The 2023 boom in solar panel adoption is attributed to households aiming to reduce high energy bills. With the average home paying £1,928 annually for gas and electricity bills, the appeal of solar panels as a cost-effective and sustainable energy solution has grown.
Government Perks and Total Installations
Despite the closure of the Feed-in Tariff scheme in 2019, the current government incentive offers a 0% VAT on energy-saving materials added to a property, motivating the installation of solar panels. As of the end of 2022, the total number of solar panels on UK homes stands at 1.2 million, marking a 14.4% increase.
Considerations for Homeowners
Sophie Mason from Coventry BS emphasizes the financial and environmental benefits of solar panels, citing a surge in popularity over the last two years. While the initial investment may take around ten years to recoup through lower electricity bills, renewable energy firm iChoosr notes that solar panels can add up to £2,722 to a home’s value.
George Frost, UK country manager at iChoosr, underscores the 2023 spike as a response to the cost of living crisis, rising energy bills, and a growing mindset shift toward renewable energy sources. The urgent need for transitioning to renewable energy is now a near-consensus in the UK.
Source：dailymail.co.uk
