Thinking about taking a shine to solar? You’re not alone! Despite the summer sunshine being a bit lacklustre, Brits are still snapping up solar panels in droves. While sales have dipped slightly compared to last year’s record-breaking sunshine, experts say the future is still bright for this money-saving technology.
Over 80,000 homes have gone solar in the first seven months of 2024 alone. Sure, that’s a 19% drop compared to the same period last year (when we had that scorcher of a summer!), but don’t let that fool you. 2024 is still on track to be the second busiest year for solar installations since 2015.
What’s driving this solar surge? Well, with energy bills still biting, it’s no surprise that homeowners are looking for ways to cut costs and go green. Those shiny solar panels on your roof can slash your electricity bills and could even earn you some extra quid by selling excess power back to the grid.
Thinking about joining the solar revolution? You’ll be in good company! Almost 5% of UK homes – that’s 1.4 million – are now powered by the sun. And while it’s true that 2023 saw a seven-year high in installations (thanks again to that amazing summer!), experts like Sophie Mason from Coventry Building Society reckon the interest in solar is here to stay.
“The lack of a British summer may not have put solar panels at the top of everyone’s to-do list, but they’re still proving to be a popular investment”, says Mason. “Over 400 solar panels have been installed on homes each day this year, on average, which is a definite surge from same period five years ago.”
Let’s talk numbers: Getting your hands on those energy-saving panels will set you back around £5,000 to £6,000 for a typical 4kw system.
A quick history lesson: The year 2011 still holds the crown for solar installations – a massive 200,589 panels were fitted that year, thanks to the government’s generous Feed-in Tariff (FIT) scheme. While the FIT scheme is no longer accepting new applicants, homeowners who signed up before April 2019 can still enjoy those sweet, sweet payments for selling their excess solar energy.
Don’t worry, the government hasn’t left you in the dark! There’s a new scheme – the Smart Export Guarantee (SEG). Launched in June 2019, the SEG also pays homeowners for their surplus solar power, though the exact rates can vary depending on your energy supplier.
So there you have it! While a slightly chillier summer might have cooled the solar market, there’s no denying that solar power is here to stay. With soaring energy prices and a growing desire for green living, now could be the perfect time to embrace the sunshine and give your home a solar-powered makeover.