Solar panel installations hit a seven 12 months excessive
- Solar panel installations rose by virtually 50% final 12 months, new figures present
- High vitality payments are behind the rise – however panels nonetheless have their naysayers
The fee of latest photo voltaic panel installations on properties reached a seven-year excessive in 2023, in keeping with new evaluation.
More than 161,494 new photo voltaic panels have been put in on properties final 12 months, which is a 44.6 per cent improve on the 111,713 new installations in 2022.
The improve was revealed by Coventry Building Society evaluation of presidency photo voltaic panel figures.
The fee of latest photo voltaic panel installations is now on the highest degree since 2015, when the whole for the 12 months was 179,137.
Soak up the solar: More Britons are selecting photo voltaic panels, however the units nonetheless have their naysayers who say they don’t seem to be definitely worth the outlay
But a lot of the 2015 spike was pushed by authorities subsidies for photo voltaic panel installations, which have been lower down in 2016.
The 2023 increase in photo voltaic panel becoming was doubtless attributable to households seeking to convey down excessive vitality payments.
The common house is at the moment paying gasoline and electrical energy payments of £1,928 a 12 months, restricted by the Ofgem worth cap.
The highest 12 months on file for photo voltaic panel installations was 2011, when 200,589 panels have been put in – this was following the launch of the Feed-in Tariff scheme in 2010.
This paid photo voltaic panel house owners for any electrical energy they didn’t use, which might be successfully bought again to the National Grid.
However, the scheme closed to new clients from 1 April 2019.
The essential present authorities perk for properties becoming photo voltaic panels is 0 per cent VAT on energy-saving supplies added to a property. This is because of finish on 1 April 2027.
The complete variety of photo voltaic panels on UK properties now stands at 1.2 million, a 14.4 per cent improve from the top of 2022.
Sophie Mason from Coventry BS stated: ‘The hovering value of vitality has led extra individuals to spend money on renewable vitality sources for his or her dwelling.
‘When you issue within the extra advantages of decreasing your carbon footprint, and probably including worth to your own home with an improved EPC ranking, it is little shock to see the surge in reputation of photo voltaic panels during the last two years.’
Are photo voltaic panels value it?
Solar panels are normally a very good funding in the event you plan to remain in your house for a minimum of ten years after you put in them.
This is as a result of it usually takes that lengthy to recoup the preliminary value of getting the panels fitted from years of decrease electrical energy payments.
Fitting usually prices round £5,500, or twice that with a storage battery that lets you maintain surplus vitality to make use of if you like, not simply when it’s mild exterior.
However, chances are you’ll not make the cash you spend on photo voltaic panels again in the event you promote your own home sooner.
Some consumers might even see photo voltaic panels as a precious asset and be keen to pay extra for a house with them fitted.
Smart transfer? It usually takes ten years to recoup the preliminary value of getting the panels fitted from years of decrease electrical energy payments
Renewable vitality agency iChoosr stated photo voltaic panels can add as much as £2,722 to the worth of a house.
But others won’t recognise their worth, and should even pay much less for a house with photo voltaic panels in the event that they assume they’re ugly.
However, there’s an environmental profit to having photo voltaic panels put in too, in addition to safety that you would be able to nonetheless have electrical energy within the occasion of a wider energy lower.
George Frost, UK nation supervisor at iChoosr, stated: ‘The spike in photo voltaic panel adoption in 2023 was pushed, partly, by the price of dwelling disaster and rising vitality payments. But there has additionally been a major mindset shift on putting in renewable vitality sources by UK householders and home-seekers.
‘There is now a near-on consensus throughout the UK that we’re knee-deep in a local weather emergency, demonstrating the pressing want for the transition in the direction of renewable vitality.’
