Solar Panels: UK Interest Soars 75%

Written: Tyrese Garvie

MASSIVE INTEREST - According to Google, search traffic for ‘Solar Panels’ in the United Kingdom has increase by 75% in the last 12 months. This increase in search volume shows us that consumers across the country have a renewed interest in the renewable energy equipment.

The real question though – is it the best choice for homeowners? Energy Point have partnered with ‘Solar Fast’ to gather information about the ever popular and money saving equipment.

What are Solar Panels?
Solar panels, also known as photovoltaic panels (solar PV panels), produce electricity by taking energy from the sun. These panels work by using daylight and its energy to power properties or other equipment.

Who can use Solar Panels?
Anyone can use solar panels – businesses, homeowners and renters (with the landlord’s permission). There are restrictions on how many panels that you can have (before it’s classified as a solar farm) and there are regulations to ensure that installers are working safely and professionally.

Why do people use Solar Panels?
People install solar panels onto their roofs so that they can do some of the following:

• Be environmentally friendly.
• Save money on energy bills.
• Increase the value of their home / property.
• To become their own energy supplier.

In this insight, we’ll break down each case-use for solar panels and summarise where we see the solar energy market heading in the near-future. 

Environmentally Friendly
It’s no secret that solar panels have contributed to the protection of the environment. One singular solar panel will save over 900kg of CO2 per year; in laymen terms, this is enough to fill up 18 buses of carbon dioxide a year. Most homes have a 12-panel system – this equates to around 10,800kg of CO2.

Using a PV system with a battery means that you’re far less reliant on energy suppliers, who often use fossil fuels. The utilisation of fossil fuels is the cause of major effects on the climate and fuel conflicts and resource wars across the globe.

Attitude towards the environment has shifted massively in the last decade, with more and more people taking climate change seriously. Solar is no longer reserved for the most extreme eco-warriors – they are a reasonable and effective method to protect the planet.

Save Money on Energy Bills
With average savings of around 70% on energy bills every year, many people are joining the solar revolution for monetary reasons. Some solar system installers quote that you can save up to £800/yr on electricity.

Prices for electricity and energy on whole (including petrol & diesel) have been fast rising for the last few months. Installing green energy equipment for your home is a safe way to save a considerable amount of money and beat rising energy prices.

The Chancellor of the Exchequer Rt. Hon Rishi Sunak, announced in 2022 that VAT tax will be removed from solar products, after action from the industry. This means that further savings can be made with the installation itself, rather than from just savings.

A spokesperson from Solar Fast said:

“Positive action towards solar panels is an investment of trust and a thumbs-up that these green energy equipment methods work. Solar works.”

Solar Fast Spokesperson

Increase the Value of Your Home
Futureproofing and improving your home will always increase the value of your home. Not only are solar panels now stylish, but they’re trending – it’s ‘cool’ to have black sleek panels on your roof.

Not only are solar panels now an aesthetic for properties, but they also increase the energy efficiency for your home.

In a government insight, it is reported that installing energy-saving measures for your home can increase your property’s value by 14% and even more, depending on where you live within England. This average increase is about £16,000 – the average price of solar panels is £12,000, meaning that you’re £4,000 in profit.

Become Your Own Supplier
Installing solar panels is the equivalent to putting a power plant on your roof. Installing such energy measures allows you to take complete control of your energy production and generation. You essentially become your own energy supplier – generating your own energy supply and selling the excess back to the grid, or saving it for later (at night, for example).

With a full solar panel and battery installation you can become independent. Our analytics team at Energy Point have found that this is one of the best ways to save money during the energy crisis.

Other Solutions?
Other energy-saving solutions do not best meet the concerns of the public. Heat pumps are far too expensive and invasive for installation, boilers can you save £500/yr on energy, but they do not offer the independence and insulation does not yield the returns which can be found in the installation of residential solar panels.

Summary
It’s a fact that there has been a soaring increase in UK solar panel interest (75% increase) (22/03/21 vs 22/03/22). This is not just a random occurrence. People have become more interested in the energy equipment because of the following recent events:

• Government action 
• Rising energy prices
• Idea of energy independence
• Climate change concerns

The underlying concern for many, however, is monetary; the idea of saving large sums of cash is too good to ignore.

EPI have identified that, whilst climate change concerns, is still a major motivator for the UK population, it has been overtaken by concerns about the energy crisis and the soaring price of living.

PV and battery installation offers a clear and easy route to better financial independence and stability.

Our intelligence division (EPI) predict that solar panel interest will pique again within the next 3-months when weather begins to improve, and the sun is more prominent in the sky. We also predict further government intervention before the next price cap increase in October. This causes us to believe that the biggest increase in interest will occur August-September 2022.

We advise consumers to consider get solar panels installed well before this timeframe in efforts to save money and make savings with more sunlight.

Written by Tyrese Garvie

Thanks to Solar Fast for their assistance in this insight.